Shiba Inu (SHIB), the dog-inspired coin 🐕🦺, has seen significant shifts in trading activity over the past 24 hours ⏳, as whales 🐋 and retail investors 💼 have intersected.
Whale movements and individual investor activity
According to data from IntoTheBlock, whale transactions have seen a 20.73% decrease 📉, indicating a slowdown in their activity in the Shiba Inu market. This decrease equates to $121.29 million worth of transactions 💵 or about 4.78 trillion SHIB tokens 💠.
Despite this decline, SHIB’s price rose by 13% 📈 during the same period, reflecting renewed interest from traders 👥. Meanwhile, total trading volume jumped by 92% 🚀 to $3.19 billion 🏦, according to CoinMarketCap. This indicates that retail investors 🛒 are dominating the market while the role of whales 🐬 is shrinking.
Market Impact on Shiba Inu Price
The surge in market interest 🌟 has sent the price of Shiba Inu soaring to $0.00002759 💰, reinforcing a positive sentiment despite the decline in whale activity. This rise reflects growing confidence 🔑 among retail investors looking to profit from the currency’s short-term volatility ⏱️.
A look at the price action
On November 21 📅, Shiba Inu bounced off a low of $0.000023 🟢, indicating strong buying by bulls 🐂 on dips. So far, the coin has continued to gain for the third consecutive day 🔄.
At the time of writing, SHIB was trading at $0.00002768 🟡 after hitting a daily high of $0.00002816 🔺.
If buyers manage to break above the current resistance level at $0.0000281 🔓, the coin could rise to $0.000029, which would complete the inverse head and shoulders pattern ♻️, a strong bullish indicator. In this case, Shiba Inu could see a rise to $0.000039 and then $0.000047 ✨.
Conversely, if the price drops below $0.000023 ❌, it could indicate bear control 🐻, which could lead to a decline towards the 50-day SMA at $0.000020 🔻.
Frequently Asked Questions
What are the latest changes in Shiba Inu trading?
Whale activity decreased by 20.73% while overall trading volume increased by 92% due to increased participation from retail investors 🌐.
How has Shiba Inu price reacted to these changes?
SHIB price is up 13% in the past 24 hours thanks to increased interest from retail traders 🛍️.
What is the next Shiba Inu price prediction?
If the price breaks the current resistance levels 🔑, we may see a rise to $0.000047. If the price breaks below $0.000023, it may experience an additional decline 📉.
Conclusion
Recent data shows that the Shiba Inu market is undergoing a remarkable transformation ⚡ as retail investors fill the void left by whales. With the continuous rise in trading volume and price 🔝, new opportunities for growth 🌱 emerge, but they also come with the risk of high volatility 🌊.
