7 Billion Shiba Inu (SHIB) in 24 Hours: Is Shiba Finally Rising?

7 Billion Shiba Inu (SHIB) in 24 Hours: Is Shiba Finally Rising?

With the Shiba Inu network’s dull performance over the weekend and into Monday, we are finally seeing a resurgence, with whale activity on the rise. Almost eight billion Shiba Inu were traded between various entities.

With the Shiba Inu network’s dull performance over the weekend and into Monday, we are finally seeing a resurgence, with whale activity on the rise. Almost eight billion Shiba Inu were traded between various entities.

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New data shows that the Shiba Inu network has seen a notable increase in the number of large transactions. The number of large transactions has increased significantly in the last 24 hours, totaling 153 compared to the seven-day low of 101.

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This increase in activity points to a resurgence of interest among major market players, also known as whales. These whales are moving significant amounts of SHIB, suggesting possible phases of accumulation or strategic positioning. Over the course of this 24-hour period, over 7.53 trillion SHIB was moved.

Related

Mon, 06/10/2024 – 11:36
40 Billion Shiba Inu (SHIB) in the Spotlight as Bulls and Bears Clash

This indicates that the market is experiencing an increase in liquidity and activity as it has recovered significantly from the seven-day low of SHIB 1.36 trillion. This new interest was anticipated after the market hit a seven-day high of SHIB 161 trillion on June 5, but the current volume shows that key players are still actively participating. SHIB is currently trading slightly below its 100 EMA at around $0.000022.

SHIB is having a difficult time holding important support levels, as the recent price action suggests. The rise in large transactions may be a harbinger of future increases. SHIB may surpass current resistance levels and aim for higher targets if whales are rallying.

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