Shiba Inu Triangle Breakout Imminent Amid Whale Dominance
The Shiba Inu (SHIB) market has formed a large symmetrical triangle on its price chart, which may soon burst in an explosive price release. According to TradingView, SHIB is currently trapped at the apex of this technical pattern. Meanwhile, a parallel analysis of blockchain records on Etherscan reveals that capital concentration among whales has reached extreme levels.
Just under 95% of the circulating supply is controlled by a closed pool of large holders, pushing the coin toward an imminent breakout from the triangle. Traders are currently focused on two key triggers at the pattern's boundaries: a daily candle close above $0.00000540 resistance or losing the psychological support at $0.00000500.
SHIB's current on-chain market capitalization stands at $5.19 billion, but due to the overwhelming dominance of large holders, the price trajectory depends entirely on the trading decisions of a few hundred players capable of directing the trend regardless of broader market demand.