Shiba Inu has seen a massive trade of 1.5 trillion SHIB tokens in the last 24 hours. These whale-level trades occurred amid a massive spike in market volume over the last 48 hours. Shiba Inu may finally be trying to enter a reversal pattern.
Notable drivers of these transactions include major exchanges such as Binance, Coinbase, Kraken, Gate.io and Robinhood. SHIB trading volumes ranged from 42.6 billion SHIB to 397 billion SHIB, worth millions of dollars.
Key Actions
Binance Hot Wallet sent 357,479.8 million SHIB worth $7.82 million, indicating large fluctuations that may be related to exchange operations or large-scale transactions. Coinbase Hot Wallet participated in multiple transactions and received 808 billion SHIB worth $1.88 million. This indicates that retail or institutional investors may be conducting large accumulation.
Cumberland DRM performed a number of transfers, including sending 112 billion SHIBs worth $2.67 million and receiving 105 billion SHIBs worth $2.49 million.
Robinhood processed 208 billion SHIB transfers worth $5.09 million, which could reflect retail interest or platform-driven moves. While impressive, these large moves don’t necessarily guarantee an immediate price increase or decrease.
Shiba Inu Price SHIB/USDT The daily chart shows that SHIB is currently trading at around $0.00002398. The price is consolidating inside a descending triangle pattern, which is typically a bearish continuation pattern. However, SHIB recently tested the upper level of the formation.
