The SHIB price stayed within a narrow trading range on Saturday, 4 July 2026, as Shiba Inu showed modest gains across daily and weekly charts.
Data pointed to higher activity, while technical signals showed resistance still limiting momentum. Whale-linked holdings added caution for traders.
As of writing, Shiba Inu (SHIB) is trading at $0.000004378, marking a 1.12% increase in the past day. The trading volume has gone up by 4.01% and is currently standing at $73.06 million. Over the last week, the coin price has gone up by 3.32%, according to CoinMarketCap.
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SHIB Price Faces Breakout Test as Double-Top Pressure Builds
Analyst Crypto With Gopal mentioned that SHIB has formed a rectangle consolidation formation. The analyst also noted the possibility of a double top formation.
The price of SHIB continues to find buyers within the trading range. The sellers’ resistance at the upper border has been rejected many times.
A breakthrough of the rectangle can reverse the trading formation, which will eliminate the pressure from the double top and give an impulse to another rally. At the moment, the support of the trading range is important.
The breakout of the trading range by SHIB may require greater trading volume. Otherwise, the price may stay range-bound for some time.
Futures Activity Rises as Open Interest Climbs
According to CoinGlass data, the futures trading volume increased by 15.72% to $99.53 million. Open interest also grew by 2.10% to $34.98 million.
The OI-weighted funding rate for SHIB amounted to 0.0029%. These values indicated active positions in the market. At the same time, these data did not indicate any excessive leverage of trades.
On-Chain Data Shows Burn Support and Whale Risk
The on-chain address data painted an ambiguous picture regarding the future SHIB price forecast. Bubble maps data revealed numerous addresses that were related to token transactions. Overall distribution looks neutral to bullish. However, the centralized wallet risk became evident.
Firstly, burn addresses held 41.04% of tokens owned by top addresses. These tokens are no longer in circulation. This will help to boost the SHIB price provided that the demand does not decrease.
Nevertheless, centralized holding risk remains visible. One cluster of 252 linked addresses that owns 8.58% of SHIB. This cluster created a bearish signal for the traders.
The clustered addresses might indicate coordinated whale activity. If the cluster decides to sell its coins, then it may create serious downward pressure on the SHIB price.
At the moment, Shiba Inu is trapped between support and resistance levels. The buyers need a breakout to increase their control. Failure to hold the support level might lead to new price falls.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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