Shiba Inu activity is off the charts as nearly 3.5 trillion SHIB tokens have been moved in the last 24 hours, signaling that big investors are back in the market. Here’s what that could mean for SHIB’s price.
With 3.45 trillion tokens changing hands in the last trading session, Shiba Inu has seen a significant recovery. This increase in activity suggests that large holders — also known as whales — may be accumulating and that demand may be reviving. This behavior is often a sign of significant price moves, both up and down.
SHIB is currently trading near the critical price threshold of $0.00002 in the range of $0.000019. If this level is broken, it could indicate a bullish trend and attract more traders and investors. The increase in large transactions suggests that large players are moving, possibly in anticipation of a price increase. SHIB recorded a seven-day high of 187 transactions when the number of large transactions was analyzed, significantly higher than the seven-day low of 38 transactions recorded on July 11, 2024.
This growth indicates increased investor confidence, meaning they expect positive price changes in the near future.
Despite the current bullish outlook, there are a few things to consider. Liquidity and trading volume are very important at the moment. Sustained high volume is needed to maintain upward momentum, despite the surge in large transactions, which suggests increased activity. Based on the chart, SHIB appears to be approaching important resistance levels, particularly around $0.00002, which has historically served as a psychological barrier.
