Billions of Shiba Inu (SHIB) Deposited on Major Exchange: Liquidation Nearing?

Billions of Shiba Inu (SHIB) Deposited on Major Exchange: Liquidation Nearing?

Shiba Inu is witnessing significant transactional activity with billions of tokens deposited on major exchanges. This movement of large amounts often indicates possible liquidity events or preparatory steps for significant market actions.

Shiba Inu is witnessing significant transactional activity with billions of tokens deposited on major exchanges. This movement of large amounts often indicates possible liquidity events or preparatory steps for significant market actions.

Advertisement

From the transaction data, we observe that substantial amounts of SHIB are transferred to exchanges such as Upbit, Binance, and Crypto.com. Notably, a single transaction to Upbit involved a staggering 52 billion SHIB valued at approximately $505,640. Such substantial moves to change portfolios can sometimes indicate a willingness to sell, as investors look to capitalize on recent price movements or mitigate the risks of a slowdown.

SHIBUSDT
SHIB/USDT chart by TradingView

Analyzing the Shiba Inu price chart, we identify a series of peaks and valleys, forming what appears to be an increasingly tight consolidation pattern. This compression indicates a period of indecision among traders, and a breakout is likely to dictate the next significant price trend for SHIB.

Related
What is happening with Cardano (ADA)? This latest report says a lot

The chart shows resistance forming around the upper trend line of the current price pattern, where SHIB has experienced a pullback, creating a temporary top. On the other hand, the support level is where the price has found a floor, and the lower trendline provides a boundary that the bulls have successfully defended so far.

A thorough analysis suggests that if the influx of SHIB into the exchanges results in increased selling pressure and the support level is broken, we could witness some downward price action. Conversely, if resistance is broken with sufficient volume and buying pressure, an uptrend may occur.

Considering the current market dynamics and whale activity, traders and investors in SHIB should closely monitor these key support and resistance levels for early signs of a decisive market move.

Leave a Reply

Your email address will not be published. Required fields are marked *

Best Exchanges
Buy, trade, and hold 600+ cryptocurrencies on Binance
Buy, trade, and hold 450+ cryptocurrencies on ByBit
Buy, trade, and hold 150+ cryptocurrencies on Kucoin
Buy, trade, and hold 100+ cryptocurrencies on BitFinex 
Buy, trade, and hold 150+ cryptocurrencies on CoinBase

Guru Investing is an independent source of information about investing , not controlled by any broker. All our reviews and guides are created honestly, according to the best knowledge and judgement of the members of our independent expert team; however, they are intended for informative purposes only and should not be construed as, nor relied upon as, legal advice. You should always make sure that you meet all regulatory requirements before making any financial operations . Copyright ©2024 Email for contact [email protected]
follow telegram
pornhd.com hindisexyporn.com kashmiri girls sex jayasex indaporn.info desi bhabi xxx xlnindia sexo-vids.com 1st time sex video たかはししょうこ動画 javfuck.mobi 真正中出し3本番 彩乃なな sex film sexy film xxxhindividoes.com xnxx indian teens
ano nga ba ang pangarap iwantmoreteleserye.com hello heart episode 3 reshma hot saree images nuporn.mobi xvidies com bihar chudai tubezaur.mobi heroine photo hot dasixx hardcoreporntrends.com ileana d'cruz hot photoshoot www.xxxsexvideo.com xbeegtube.mobi hindi movi
www sxe vidoes erohardcore.info boops sucking dehati fuck kitporn.info chuk chuk rail fuckcomix.com mojoporntube.net gujaratisexvidio probinsyano october 18 2021 full episode freeteleseryetv.net ang probinsyano july 14 2022 قصص سكس كرتون cmsextra.net سكس بنات تخينة