765 Billion Shiba Inu Tokens Flowing: What Happened?

A large number of Shiba Inu tokens started flowing. 765 billion SHIB tokens were transferred between large entities in the market.

Most of these SHIB tokens were sent to trading platforms like Coinbase, which usually means that holders may be preparing to sell. If a large number of tokens are transferred for sale, the price of SHIB may face huge pressure, which is the last thing this coin needs right now.

Looking at the detailed trading history, we can see that a large number of tokens - from about 45 billion to more than 123 billion SHIB, have flowed into major trading applications and platforms.

From a technical perspective, shib is forming a clear triangle pattern. This means that the price is bouncing between higher lows and lower highs, and will eventually break this pattern. It can be likened to a spring that is coiled up and ready to jump out in any direction.

Right now, SHIB is trading above key moving averages, which can be a positive sign for those who hold this coin.

If the trend shows more signs of selling, the price may head towards lower support levels. On the other hand, if SHIB breaks out of the triangle pattern, we may see prices rise and test new highs.

As the activity of whales and large traders surges, we may see Shiba Inu's volatility increase in line with it. The market may be on the verge of a long-term recovery, and the surge in Shiba Inu transactions may be a precursor to this coin's reversal into a bull market.

#SHIBA🚀

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