11 Trillion Shiba Inu (SHIB) in 24 Hours: What to Expect
Shiba Inu (SHIB) has witnessed a staggering 11.39 trillion SHIB in transaction volume over the past 24 hours, signaling heightened on-chain activity. This surge aligns with robust whale movements, which often act as key influencers in shaping the asset’s price dynamics.
Key Price Levels: Resistance and Support
Currently, SHIB is trading near $0.000030, a level emerging as a critical resistance point. On the downside, the $0.000026 mark serves as a strong support zone, potentially offering a recovery platform in the event of sell-offs. While trading volume remains relatively stable, it has dipped slightly compared to the major spike seen earlier this month, reflecting mixed market sentiment.
Whale Movements Driving Market Liquidity
On December 2, whale activity hit a seven-day high with 21 trillion SHIB transacted, highlighting the significant role these large holders play in maintaining market liquidity. Historically, such elevated whale activity often precedes pivotal price shifts, whether through breakout rallies or periods of consolidation.
Technical Indicators:A Closer Look
Shiba Inu’s Relative Strength Index (RSI) suggests the asset is currently in slightly overbought territory, though not alarmingly so. Combined with a tapering in trading volume, this points to the possibility of short-term consolidation or a minor retracement before any significant price movement.
For SHIB to sustain a bullish trajectory, it must decisively break through the $0.000030 resistance level, setting up $0.000033 as the next target. Conversely, if the $0.000026 support fails, the asset could retest $0.000022, where demand might resurface.
The Bigger Picture:Macro and Sentiment
SHIB’s future movement will depend heavily on the interplay between whale strategies and the actions of retail investors, alongside broader market conditions. With major cryptocurrencies stabilizing after recent rallies,