33.7 Trillion Shiba Inu (SHIB) to Inflow in Next 24 Hours
Shiba Inu’s On-Chain Volume Indicates Strong Rally Continuation
With on-chain data indicating a potential inflow of 33.7 trillion SHIB in the next 24 hours, Shiba Inu is gearing up for volatility. The token’s price performance and the general dynamics of the market could be significantly impacted by this heavy activity.
Technically, the price chart indicates that SHIB has run into resistance at the $0.000031 level. The token has dropped 1.7% over the past day, indicating that selling pressure is increasing after its most recent surge. The $0.000027 and $0.000025 levels are crucial supports, where SHIB could see buying interest to stabilize its position. The potential inflow of 33.07 trillion SHIB could trigger more volatility.
Whale activities or significant exchange transactions may be associated with this activity, which may indicate either substantial accumulation or potential selling. Since the RSI indicator is hovering around neutral levels, both upside and downside movements are possible.
However, transaction volume and community participation remain strong for Shiba Inu. According to data from profitability metrics, the majority of SHIB holders may be reluctant to increase the size of their holdings until the token shows more clear signs of upward momentum.
Market psychology explains the relationship between SHIB’s incoming supply and its price performance. Larger supply typically creates concerns of dilution, which can result in a temporary price drop. However, if whales take advantage of this inflow to gain ground, it could be a bullish signal.
However, we believe that the rise or fall of the price of any coin depends on the demand and supply in its market
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