The Shiba Inu (SHIB) #cryptocurrency ecosystem, inspired by #memes , has seen significant growth in recent days. According to on-chain data, there has been an increase in whale activity (large cryptocurrency holders) over the past 24 hours. Data from the platform IntoTheBlock shows that 1.3 trillion #shiba⥠tokens were transferred in large transactions worth at least $100,000 during this short period. This activity surge is 115% higher compared to the previous day.
Growth in Large Transaction Volume
The volume of large $SHIB transactions increased by $10.15 million in monetary terms. In total, there were 62 large transactions, with each averaging $163,709. This average is 63% higher than the usual daily transaction volume for SHIB.
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Shiba Inu (SHIB) Price Development
One of the key factors accompanying this wave of whale activity is the sharp rise in the price of the Shiba Inu token. Over the last 24 hours, its price increased by more than 5.62%, reaching $0.0000145, the highest level in the past month. This price surge is even more significant as it broke through a dynamic resistance level that was set after the price pump in March.
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Breaking Resistance and Future Outlook
For the past six months, this resistance level acted as a strong barrier to further price growth. With a 8.15% increase since the beginning of the year, this barrier has finally been breached. Now, attention turns to the next resistance level around $0.000016. If this level is also broken, the next key target will be around $0.0000183 per SHIB â a level that has historically served as an unbreakable barrier for the popular meme coin.
Conclusion
The rise in whale activity and the breaking of the price resistance for Shiba Inu signal a potential further expansion for this popular meme-based currency. The next key resistance levels will play a major role in determining how SHIB's price evolves in the coming days and weeks.
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