Shiba Inu Price Surges 37%, But Whale Activity Raises Profit-Taking Concerns

Shiba Inu's price surged 37% over two days due to increased retail interest and social activity. However, this rally was accompanied by large holders selling significant amounts near the peak, with 52 transactions recorded.

The token burn rate also spiked, removing 2.19 billion SHIB in 24 hours, indicating efforts to reduce supply. Despite the rally, technical indicators show mixed signals, with resistance at $0.00000530, $0.00000540 and support near $0.00000490.

Derivatives data suggest short sellers still hold an edge. Market watchers will focus on whale activity and social momentum for SHIB's next moves.