#PCE通胀降温

On December 19, a large transfer of Shiba Inu (SHIB) attracted the attention of traders. An early SHIB whale transferred nearly 400 billion SHIB. The recipient of this transfer was Gemini, amounting to approximately 9.69 million USD.

According to a report from the on-chain data analysis service Spot On Chain (@spotonchain), this early SHIB investor purchased 15.2 trillion SHIB for 10 ETH back in August 2020, earning a considerable profit.

Spot On Chain stated on X: 'This $SHIB whale, who has profited over 108 million USD, just transferred 3999.99 billion SHIB (approximately 9.69 million USD) to Gemini in the past hour.'

It is worth mentioning that this whale only bought 15.2 trillion SHIB for 10 ETH on August 7, 2020. He still holds 2 trillion SHIB, worth about 48.54 million USD, and it is estimated that his total profit from SHIB has reached 107.7 million USD, with a return rate of 3.7 times.

This anonymous whale is not the first to choose to take profits. As early as mid-November, Spot On Chain pointed out that this early investor (address '0xd6b') resumed selling after a long period of inactivity, depositing 100 billion SHIB to Gemini, which was worth about 2.81 million USD at the time. In fact, this whale's last activity was in March when he transferred 200 billion SHIB to Gemini and Crypto.com.

Shiba Inu price drop

In the past 24 hours, the price of SHIB has dropped by about 6.2%, continuing the short-term decline trend of 10% on December 18.

This weak trend is largely consistent with the overall decline in the cryptocurrency market following the recent Federal Reserve (FOMC) press conference. Although the Fed raised interest rates by 25 basis points as expected, Chairman Powell indicated a more cautious rate-cutting strategy for 2024, leading to a relatively weak response in the digital asset market.

Despite these macro factors and the impact of whale selling, the long-term technical structure of Shiba Inu remains relatively stable. From the daily chart, SHIB has received support at the key support level—the 100-day EMA. Since the price first broke through this level at the end of September, the 100-day EMA has been a strong support area for SHIB.


Additionally, SHIB is currently still holding above the 0.382 Fibonacci retracement level of 0.00002409 USD, which is another key price level of interest for analysts.

Next, the 0.5 Fibonacci retracement level (0.00002821 USD) serves as a critical midpoint of the recent high-low range and will be a psychological test for SHIB's ability to rebound. If SHIB wants to recover, this price level will be an important observation point.

If the price moves further upward, the next resistance levels are at 0.618 Fibonacci (0.00003234 USD) and 0.786 Fibonacci (0.00003821 USD). These levels may become obstacles during the price increase process, especially when bullish sentiment rises.

#加密市场回调
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