Shiba Inu broke through the $0.000005 resistance level that has capped its price since late July, spiking to an intraday high near $0.00000522 before settling around $0.00000517 — a gain of almost 5% on the day. The level had rebuffed several recovery attempts through August, making this the first clean break above it.
Momentum indicators back up the strength of the move: SHIB’s daily RSI climbed to roughly 67, edging toward overbought territory, while its signal line sits near 49. The token’s short-term moving average now sits between $0.00000452 and $0.00000489, still well below its longer-term moving average of $0.00000570 to $0.00000575 — a gap that suggests the token has room to run before it faces stiffer technical resistance.
As one technical read on the move put it, the $0.000005 level “has repeatedly restricted SHIB” in recent weeks, and this breakout carries “far more momentum than the feeble attempts at recovery that were observed earlier in August.” Traders are now watching whether the old resistance, in the $0.00000485 to $0.00000500 range, holds as new support on any pullback, with $0.0000045 as the next critical floor beneath that.
Burns and Whale Buying Underpin the Move
The breakout coincides with a sharp pickup in token burns and whale accumulation. Burn tracking shows the daily rate has spiked as much as 618% in a single 24-hour window, with more than 11 million tokens removed from circulation in one day — the largest daily burn since late July — and roughly 3.35 billion SHIB burned over the trailing 30 days. A separate burn event pushed the daily total to more than 117 million tokens, the highest since November 2025. Public burn-tracking data shows the pace of destruction has run well above typical 2026 levels through most of August.
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Whale wallets have moved in step with the burns. On-chain trackers recorded a single wallet purchase of more than 50 billion SHIB, while exchange reserves fell to roughly 86.1 trillion tokens and more than 4 trillion SHIB moved off exchanges in recent weeks — a pattern typically read as accumulation rather than positioning to sell.
Whale Positioning Echoes Elsewhere in Altcoins
That kind of whale movement isn’t unique to SHIB this week. Whale deposits around Pendle recently sparked the opposite reaction, raising fears of an imminent sell-off rather than confidence in a rally — a reminder that large-wallet activity can cut either way depending on whether coins are moving onto exchanges or off them.
With RSI already brushing overbought territory, SHIB’s next real test is whether it can hold the reclaimed $0.000005 level as support on a pullback, or whether the rally stalls out before challenging the $0.0000060 to $0.0000065 zone that traders are now eyeing as the next target.
