Increased whale activity boosts Shiba Inu 4%. This Impacts SHIB's Future?

The Shiba Inu price has dropped following a big rise this morning, currently up 2.19% in 24 hours. Importantly, measurements show whales drove this.

Whales seem to be profiting from Shiba Inu's lows since last week's slump, driving it up. It's down 0.66% since Tuesday, although other meme currencies have gained more.

Trader activity has increased due to these large inputs. Meme coin trade volume rose 44.95% to $170.86 million in 24 hours.

Whale-Driven SHIB Price Breakout: More Upside?
Shiba Inu whales lead this rebound.

IntoTheBlock data shows a 68% increase in major transactions to $24.97 million in 24 hours.

The SHIB price chart illustrates that whale behavior caused a breakout.

SHIB has broken out of its falling wedge pattern and is no longer volatile under fear, uncertainty, and doubt.

Sell pressure that kept SHIB in the pattern's restricted range has unraveled, as momentum indicators show.

The RSI is now around 60, indicating resilience after trying to breach neutral. It's neutral yet bullish.

Same message from the Chaikin Money Flow (CMF), now +0.2. The reversal is more persistent due to buying pressure.

After a crossing, the MACD line is above the Signal line, suggesting bulls are driving SHIB's next move.

This breakthrough seems resilient. After the breakout, the 50 EMA, which was resistance throughout the pattern, is now support.

SHIB will require basic support, such as ecosystem development, to survive.

With more advancements coming to Shibarium, the token should keep increasing.

Traders should wait for a break over the 200EMA to establish an uptrend before reclaiming $0.000016.

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