Shiba Inu Investors Transfer 4.29 Trillion SHIB to Coinbase; What Happened Next Will Shock You 😱
**Key Points:**
- Despite market uncertainty, Shiba Inu's price stabilizes above $0.0000206. If this support holds, SHIB could rebound and needs to surpass $0.0000296 to achieve a 53% gain to $0.000045.
- A breakout above $0.0000297 would indicate a significant trend reversal for SHIB. The intraday trading volume for Shiba Inu is $759.5 million, showing a 50% increase.
- For the past two months, Shiba Inu has been trading sideways, stabilizing above $0.0000206 and forming a local bottom.
- Ten wallets have transferred a total of 4.29 trillion SHIB (approximately $97.33 million) to Coinbase. These wallets accumulated SHIB between September 2021 and March 2024.
- These transactions increase supply pressure on SHIB, potentially causing a price drop back to $0.0000206. If this support holds, buyers are likely to resume bullish momentum and prepare for a price reversal.
- The 200-day exponential moving average (EMA) near $0.0000206 provides additional support for buyers. The bearish crossover between the MACD and signal lines indicates that sellers currently dominate SHIB trades.