50 Trillion Shiba Inu (SHIB) Grows in 24 Hours: Is SHIB Hiding Something? 🔍
The Shiba Inu (SHIB) market has seen a flurry of activity in the past 24 hours, with both whales and exchanges making big moves. This sudden surge has drawn attention and fueled speculation.
What is really going on behind the scenes with SHIB?
Whale-sized Transactions:
Robinhood Transfers: 45.01 billion SHIB (worth about $1.13 million) was transferred from a Robinhood hot wallet to another Robinhood wallet.
Symbolic Capital Partners MEV Bot: Executed multiple trades of about 50 billion SHIB each, with each trade valued between $1.23 million and $1.26 million.
Uniswap Activity: Huge trades, such as 50.8 billion SHIB ($1.26 million) and 50.4 billion SHIB ($1.23 million).
📈On-chain data:
In the past 24 hours, 86 large transactions totaling approximately 1.14 trillion SHIB occurred, a significant increase from the seven-day low of 14 transactions and the high of 378 transactions. These transactions also surged to 1.14 trillion SHIB, while the seven-day high was 9.6 trillion SHIB and the low was 415.2 billion SHIB.
🔍Market Analysis:
SHIB is trading within a symmetrical triangle pattern, indicating market indecision. The recent increase in whale activity and large-scale transfers indicates a potential breakout or significant price movement. However, the price of SHIB has been relatively stable, hovering around $0.00002450, with resistance at $0.000025 and support at $0.00002234.
What does this mean?
Given the lack of volatility in the SHIB market, these transfers may indicate that whales and institutional investors are repositioning their portfolios. Alternatively, the exchange may be preparing for an upcoming market event.
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