Shiba Inu Coin Shocking Comeback! Whale trading volume for Shiba Inu surged 265% in the past 24 hours, can SHIB reach $0.00004?
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Shiba Inu Coin (SHIB), as a popular meme coin in the crypto space, has once again attracted market attention. In the past 24 hours, its whale trading volume skyrocketed by 265%, sparking market discussions.
With whale activity surging, can Shiba Inu's price rebound?
Recently, Shiba Inu Coin experienced several days of decline and profit-taking. However, on-chain data analysis shows that the number of large transactions surged to 37.5 trillion SHIB, marking a strong return of whale activity. This stands in stark contrast to the significant decline trend observed in the previous weeks:
December 10: 188.5 trillion SHIB was transferred in large transactions.
December 22: This figure plummeted 94% to 10.7 trillion SHIB.
In the past 24 hours, the dollar value of large transactions also skyrocketed to $84.24 million, more than doubling from the previous day's $23.06 million.
The Reasons Behind and Future Expectations
This sudden revival may stem from whales accumulating again, suggesting that investors are optimistic about a year-end market recovery. If this momentum continues, accompanied by more positive signals (such as an increase in active addresses and a significant burn of SHIB), the price of Shiba Inu Coin may rebound further.
Currently, the trading price of Shiba Inu Coin is $0.00002229, reflecting a slight increase of 3.1%. Although the rise is limited, it indicates a relief in selling pressure and an improvement in market sentiment. If whale buying continues to strengthen, SHIB is expected to challenge $0.00004.
Is the rebound beginning or just a flash in the pan?
The warming of whale activity for Shiba Inu Coin undoubtedly injects confidence into the market. However, whether it can sustain momentum will be key to determining if SHIB can achieve a significant breakthrough. Investors need to closely monitor on-chain data and market trends to seize potential opportunities!
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