Shiba Inu (SHIB) Whales Defend $3 Billion Support With 51 Billion Token Withdrawal

Zero Erase Bid on Hold

The correction that followed Shiba Inu's 39.3% rally in the third quarter has left the memecoin parked just above the line its bulls cannot afford to lose. Market capitalization sits at $3.05 billion and the Shiba Inu (SHIB) price holds near $0.0000052 after a 4% gain across the past 24 hours, yet the plan to delete another zero from the quote, a move that would lift capitalization to $7 billion, is on hold. The quote still carries five leading zeros after the decimal point, which is why each deletion matters so much to the token's holders. On the weekly capitalization chart the whole setup comes down to one line: the 23-week moving average, drawn in green. Buyers need this week to close above that average for the zero-erasing scenario to revive, and the price is trading below it as of Friday, October 16. The corrective tone is not new; the 4-hour chart printed its first October death cross earlier this month, a warning our desk followed at the time. Beneath the average, the last line of defense is the round $0.00000500 level, the final floor on the support and resistance map that keeps capitalization pinned close to the $3 billion threshold. Lose that mark, and the path back toward the summer lows opens. A weekly close above the green line would mark the first structural break of the correction, turning a defensive chart back into an offensive one, and everything between those outcomes depends on whether large buyers step up their volumes before Friday's close.

Whales Pull 51 Billion Tokens

Nothing in the on-chain record points to panic among large holders; the opposite is happening. Over the past 24 hours, investors withdrew another 51 billion Shiba Inu (SHIB) from exchanges into private wallets, a flow that reads as accumulation into weakness rather than distribution. Concentration, meanwhile, is extreme: on-chain statistics attribute 94.6% of all SHIB to just 798 large wallets, and 310 of those wallets are dollar millionaires in their own right. As long as this group holds rather than sells, a supply shortage builds quietly, because tokens leaving trading venues thin out the float and amplify any upward push. That is also why the fate of the Shiba Inu ecosystem sits with such a narrow club, an unusual structure for an asset of this size in the wider altcoin market. The bullish script runs in two stages. First, the whales buy the price back above the green line by the weekly close; once the moving average is reclaimed, the break acts as a signal for the mass retail market, whose remaining capital would carry the market toward the $7 billion target and reopen the bull market case. In the most optimistic version, that push eventually puts Shiba Inu (SHIB) on course to outpace Dogecoin. The bearish script is blunter: if the buyback chokes, the token slides to test its summer bottom, and the long tail of small retail holders, the so-called shrimps, is left leaning on burn-driven deflation to shrink supply. Tracker data most recently logged 192,678 SHIB burned in 24 hours as the burn rate eased 14.22%. Trading activity has cooled in parallel, a pattern we flagged when volume faded from summer peaks.

Our live SHIB technical analysis reading, taken after the midday report, puts the token at $0.00000517, a 0.2% dip since, though it is still 4% higher over 24 hours. Momentum stays cautious: the RSI reads 41.56, the MACD signal is bearish and the trend is classified as a downtrend, which fits a market sitting under its 23-week average. Positioning is light, with funding at 0.0068% on the perpetual and open interest near $10.27 million, too small a derivatives base to force a move on its own. The reading flips only if the weekly candle closes above the 23-week moving average; until then, the defense of $0.00000500 defines the picture, and a weekly close below that level would invalidate the rebound scenario altogether.