Shiba Inu's activity is going through the roof as around 3.5 trillion SHIB tokens have moved in the last 24 hours, suggesting a return of large investors' activity on the market. Here's what that might mean for the price of SHIB.
With 3.45 trillion tokens changing hands in the last trading session, Shiba Inu has demonstrated a substantial recovery. This increase in activity suggests that large holders — also known as whales — may be accumulating, and that demand may be rekindled. Such behavior is frequently a sign of significant price changes either up or down.
SHIB/USDT Chart by TradingView
SHIB is currently trading close to the crucial $0.00002 price threshold in the $0. 000019 range. If this level is broken, it might indicate a bullish trend and draw in more traders and investors. The rise in large transactions suggests that big players are moving, maybe ahead of a price increase. SHIB recorded a seven-day high of 187 transactions when the number of large transactions was analyzed, which is significantly higher than the seven-day low of 38 transactions recorded on July 11, 2024.
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Increased confidence among investors is indicated by this rise, which implies that they anticipate positive price changes soon.
There are a few things to take into account despite the optimistic outlook that exists right now. The amount of liquidity and trading volume at the moment are very important. A sustained high volume is required to maintain upward momentum despite the surge in large transactions that suggests increased activity. Based on the chart, it looks like SHIB is getting close to important resistance levels, especially around $0.00002, which has historically served as a psychological barrier.
