The dog-themed cryptocurrency Shiba Inu (SHIB) has seen a staggering increase in whale activity, recording a huge trading volume of 382.88%.
The dog-themed cryptocurrency Shiba Inu (SHIB) has seen a staggering increase in whale activity, recording a huge trading volume of 382.88%.
In the past 24 hours, Shiba Inu’s huge trading volume increased from 507.81 billion SHIB to 2.54 trillion SHIB, according to data from on-chain analytics platform. In the block.
Consequently, the volume of large transactions valued at $100,000 or more has skyrocketed by 382.88%, reaching a total of $60.56 million.
This rise coincides with a determined effort by bullish traders to maintain a critical SHIB range of 45 trillion, reflecting the intense battle unfolding between bullish and bearish forces over the Shiba Inu price.
According In the block According to data, 50,590 addresses purchased 45.78 trillion SHIB in the current SHIB trading price range between $0.000023 and $0.000025 at an average price of $0.000024.
At the time of writing, Shiba Inu was approaching the lower end of the range, falling 5% in the last 24 hours to $0.00002363.
As the battle between bulls and bears intensifies, the importance of the current Shiba Inu trading price range cannot be understated. Successful defense of it could trigger renewed bullish momentum, potentially propelling Shiba Inu to new highs.
Conversely, a break of this support in this range could trigger further selling pressure, testing the resolve of bullish traders and signaling a change in market sentiment.
Against the backdrop of a bullish defense of SHIB’s critical 45 trillion range, the stage is set for a high-stakes showdown between bulls and bears, with the SHIB community bracing for the outcome.
If the bulls prevail, SHIB could face its next resistance in the $0.000025 to $0.000030 region; If the bears manage to push down SHIB price, support is anticipated in the range of $0.000019 and $0.000023.
