Shiba Inu has seen 1.5 billion SHIB tokens moving in large transactions in the last 24 hours. These whale-level transactions occur amid the substantial increase in volume we saw in the market in the last 48 hours. Shiba Inu might finally try to go into reverse mode.
Shiba Inu has seen 1.5 billion SHIB tokens moving in large transactions in the last 24 hours. These whale-level transactions occur amid the substantial increase in volume we saw in the market in the last 48 hours. Shiba Inu might finally try to go into reverse mode.
Notable drivers in these transactions include major exchanges such as Binance, Coinbase, Kraken, Gate.io, and Robinhood. SHIB transaction volume ranged from 42.6 billion SHIB to 397 billion SHIB, valued in millions of dollars.
Key moves
Binance Hot Wallet sent 357.4798 million SHIB worth $7.82 million, indicating a substantial movement likely related to exchange operations or large-scale exchanges.
Coinbase Hot Wallet participated in multiple transactions and received 808 billion SHIB worth $1.88 million. This suggests significant accumulation, potentially by retail investors or institutional players.
Cumberland DRM executed several transfers, including sending 112 billion SHIB worth $2.67 million and receiving 105 billion SHIB worth $2.49 million.
Robinhood processed a transfer of 208 billion SHIB worth $5.09 million, likely reflecting retail interest or moves driven by the platform.
These substantial moves, while impressive, do not necessarily guarantee immediate price rises or falls.
The price of Shiba Inu
The SHIB/USDT daily chart shows that SHIB is currently trading at around $0.00002398. The price is consolidating within a descending triangle pattern, which is usually a bearish continuation pattern. However, SHIB has recently tested the higher level of training.
The price is declining between the 50 and 100 EMA, indicating a possible increase in volatility. A break above the 50-day EMA at $0.000024 could signal a bullish reversal, while failing to break above this level may lead to further consolidation or a decline.
