The Shiba Inu cryptocurrency has seen another surge of activity in the past 24 hours, with transactions amounting to nearly a trillion tokens. The increase obviously surprises some, but the most important thing is to break it down correctly and analyze it to avoid making mistakes. assumptions.
The Shiba Inu cryptocurrency has seen another surge of activity in the past 24 hours, with transactions amounting to nearly a trillion tokens. The increase obviously surprises some, but the most important thing is to break it down correctly and analyze it to avoid making mistakes. assumptions.
Notable transfers include 137 billion SHIB from a Crypto.com hot wallet and substantial amounts moving between Binance and Coinbase hot wallets. For example, transactions from the Binance hot wallet included one for 305 billion SHIB, and another from the Coinbase hot wallet recorded the movement of 101.068 billion SHIB. These large-scale transfers are typically indicative of strategic moves by major players, possibly in anticipation of changes in the market or in response to underlying developments within the SHIB community or the broader crypto market.
When analyzing the addresses involved, both senders and recipients primarily exchange hot wallets, suggesting a high level of activity among traders rather than ordinary holders. This pattern could mean a preparation phase to take new positions or liquidate existing ones depending on the market performance in the foreseeable future.
In terms of market impact, the Shiba Inu price chart provides more context. The chart shows a descending trend line, with the price currently hovering around $0.0000227. Recent transactions coincide with SHIB testing a crucial support level at $0.00002188. If this level does not hold, further declines could be imminent, which could push the price towards the next major support at $0.00001788.
Furthermore, the 50-day and 100-day exponential moving averages show a possible bearish crossover, which could further pressure SHIB price lower. This technical setup could be influencing large transactions as traders position themselves for a possible downturn.
If SHIB can maintain support and recover, these trades could be part of a broader accumulation strategy by savvy investors betting on a recovery. The market’s reaction to these developments will be crucial in determining SHIB’s near-term trajectory.
