I noticed that the price of Shiba Inu crypto has been stable within a narrow range these days, and the volume has decreased significantly. The candles are small and open interest has dropped by about 8%, indicating that traders are still cautious. SHIB is moving around $0.000005826, while other coins are making stronger rebounds. The situation is a bit strange – the price is stuck but activity on the blockchain tells a different story.

Whales are quietly buying. Since early April, whale wallets have accumulated over 2 trillion SHIB, worth about $12 million. And on April 13 alone, 89 billion tokens were withdrawn from centralized exchanges. Exchange reserves have reached their lowest level ever, around 81 trillion tokens. This is a strong sign that big money is accumulating while prices are low.

But at the same time, Steve Okey sold his last stake in Shiba Inu. On April 13, his wallet transferred 1.785 billion SHIB worth $10,340 and 7.248 ETH worth $15,920. The total exit was about $29,650. He had held this position since the 2021 cycle. Strange that he’s selling now while whales are entering.

On the chart, a golden cross appeared on the 30-minute timeframe – the 50 moving average crossing above the 200. The price rose 1.35% but then fell back from the peak. Crossovers on smaller timeframes are quick to fade, especially when the price is confined within a range. The big picture is more important – on the daily chart, SHIB has been confined within a channel since March 11, oscillating between $0.00000562 and $0.00000625 without a clear trend. If it breaks below support, we might see $0.00000523 then $0.0000050. If it rises above resistance, the first target is $0.00000644 and the real resistance is at $0.00000725.