Whale Activity Increases 600% with 9 Trillion SHIB Transacted

Shiba Inu has risen 19% in 24 hours to $0.00001337 while the crypto market recovers 6% today.

After one of the worst cryptocurrency days in years yesterday, the meme token is down 20% in a week.

SHIB is down 18% in a month, yet the currency gained 39% in a year despite the destruction.

Large transactions have increased since yesterday's drop, with whales taking advantage of significantly reduced pricing to drive SHIB higher.

Shiba Inu Price Soars: 9 Trillion Whales Active Transacted SHIB
After yesterday's turmoil, SHIB's signs show the currency is recovering from a hard bottom.

Its purple RSI jumped from 20 yesterday to little over 50 today, and although it has lost some recovery momentum, it remains encouraging.

Its 30-period moving average (orange) is also rising toward the 200-period average (blue), another indicator of recovery.

Data shows that significant trades of $100,000 or more have increased from 1.53 trillion SHIB yesterday to 9 trillion SHIB today, suggesting that some traders bought the decline.

These transactions may be sales, but they imply a large rise and that some whales are collecting SHIB again.

This may help the meme token rebound in the following days and weeks, but a durable macroeconomic recovery is needed.


Concerns about the US economy and job creation have lowered morale.

Fears may increase the likelihood of a Federal Reserve rate decrease at the next chance.

Confidence and bullishness would rise, raising bitcoin values.

SHIB's environment makes it one of the strongest meme tokens.

Has its own DEX, ShibaSwap, layer-two network, and popular P2E card-trading game, Shiba Eternity.

These may improve SHIB demand over time, as the Shiba Inu price rises in the coming months.

It might hit $0.00002 by Q4 and $0.00004 by year's end.

#SHIB $SHIB #BinanceTurns7 #Memecoins #WhaleAlert