One whale transferred 818 trillion SHIB coins worth $195.1 million.
In the past 24 hours, the volume of large transactions surged by 2004%.
Currently, 67.16% of top traders hold long positions, while 32.84% hold short positions.
In the past 24 hours, despite significant declines in Shiba Inu (SHIB) prices, its fans remain optimistic about the future. The current market is under enormous selling pressure due to yesterday's crash, with mainstream digital assets like Bitcoin (BTC) and Ethereum (ETH) also experiencing considerable declines.
However, as a community-driven project, Shiba Inu's strong support base leads to great expectations for its future rebound. Although market sentiment is sluggish, SHIB's loyal followers are still actively engaging in discussions, with many believing that this market adjustment has created an opportunity for SHIB's rebound.
Whales transferred 818 trillion SHIB.
On January 3, 2024, SHIB broke through a bullish double bottom price action pattern and subsequently entered a consolidation phase.
This consolidation lasted nearly three days, during which a potential large investor transferred 818 trillion SHIB coins worth $195.1 million from the CryptoCom exchange to a wallet.
This transfer occurred while the overall market showed upward momentum and remained stable.
Subsequently, after the US market opened, the Institute for Supply Management (ISM) released a report that turned the overall market bearish.
In this crash, SHIB collapsed from a three-day consolidation phase, with prices dropping over 14.5%.
Recent activity of whales.
In the recent price crash, retailers rushed to sell their stocks, while long-term holders were actively accumulating, seemingly taking the opportunity to 'pick up the bargains.' According to data from on-chain analytics firm IntoTheBlock, the volume of large transactions surged an astonishing 2004% in the past 24 hours, evidently driven by the enthusiastic participation of whales, investors, and long-term holders.
This trend not only reflects a change in market sentiment but also shows a clear differentiation in the strategies of different investors. Retailers choose to cut losses due to short-term losses, while those optimistic about long-term prospects seize the opportunity to increase their positions, attempting to profit from this wave of volatility.
During the same period, another analytics firm Coinglass revealed that exchanges witnessed an outflow of SHIB coins worth $7.04 million.
These data indicate that as the price of memecoins drops over 10%, there is potential accumulation space, attracting investors and long-term holders.
Traders are heavily betting on bullish positions.
Recently, in addition to whales, investors, and long-term holders, traders' enthusiasm for memecoins seems to be rising. According to data from Coinglass, the long/short ratio for SHIB has soared to 2.04, marking the highest level since early 2025. This figure undoubtedly conveys the strong bullish sentiment among traders.
As the market's attention on memecoins intensifies, traders are clearly confident about future trends. They believe this wave of enthusiasm could bring them substantial returns. The unique charm of memecoins lies in their community culture and short-term volatility, allowing traders to quickly seize market opportunities and profit.
Currently, 67.16% of top traders hold long positions, while 32.84% hold short positions, reflecting a particularly bullish outlook.
Considering all these on-chain indicators, it seems that bulls are currently dominating the asset and may soon drive SHIB prices higher.
Technical analysis and key levels for Shiba Inu.
According to AMBCrypto's technical analysis, the recent price drop has pushed SHIB to a key level of support and the 200 exponential moving average (EMA) on the daily time frame.
This positioning gives SHIB an optimistic outlook for potential upward momentum.
Above the (EMA), a strong rally may be on the horizon, potentially surging by 80% and breaking through the psychological barrier of $0.00003939. However, this process will not happen overnight, and we need to remain patient and observant.
Currently, SHIB is trading at approximately $0.0000217. Although it has dropped over 10% in the past 24 hours, this has not dampened market enthusiasm. During the same period, trading volume surged by 80%, indicating that more traders and investors are beginning to focus on SHIB and actively participate.
All of this indicates that market volatility and participation are increasing. Whether SHIB can break through its current bottleneck in the coming days will directly impact its subsequent trends. Friends who are watching SHIB may patiently wait to see if this 'dogecoin' sibling can make a comeback and surprise us again! Stay tuned, and let's witness the development of all this together!
