Shiba Inu is currently trapped in a range, and I’ve seen some interesting things that explain it. On one hand, major holders have accumulated over 2 trillion tokens, but on the other hand, Steve Aoki has sold all his SHIB holdings. So, it’s a mixed signal for the market.

SHIB’s price has been hovering around $0.000005826 these days, but there’s no momentum. In the last 24 hours, volume has decreased by 16%, and open interest has reached 9.37 trillion SHIB. That means traders are cautious on both sides — neither big buying nor selling is happening. This is normal when the market can’t decide on a direction.

On the short-term chart, a 30-minute golden cross has formed, slightly pushing the price higher, but it’s not confirmed yet. Looking at the daily chart, Shiba Inu has been stuck in a channel since March 11, bouncing between the upper and lower bounds. The real question is whether it can break above $0.00000625 or fall below $0.00000562.

Whale accumulation is interesting — exchange reserves have hit their lowest levels. This indicates that big players are pulling SHIB out, which is generally considered a good sign. But so far, the price hasn’t responded.