7 Trillion Shiba Inus (SHIB) in 24 Hours: Is Shiba finally rising?

New data shows a clear increase in the number of large transactions on the Shiba Inus network, with a significant increase in the number of large transactions in the past 24 hours, totaling 153 transactions, while the seven-day low was 101 transactions.

The increase in trading activity indicates a resurgent interest from major market players, also known as whales. These whales are transferring large amounts of SHIB, which indicates a possible accumulation phase or strategic positioning phase. Over 7.53 Trillion SHIB was transferred during this 24-hour period.  

This indicates a surge in market liquidity and activity as it has recovered significantly from a seven-day low of 1.36 Trillion SHIB. This renewed interest was expected after the market reached a seven-day high of 161 Trillion SHIB on June 5, but today’s trading volume shows that major players are still actively involved. SHIB is currently trading just below its 100 EMA at around $0.000022.

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SHIB has difficulty holding important support levels, as recent price movements indicate. An increase in large transactions may be a harbinger of future gains. If whales gather, SHIB may break through the current resistance level and aim for higher targets.

In short, the surge in Bitcoin holdings and the sharp drop in memecoin indicate that risks in the cryptocurrency market are increasing. Investors should pay close attention to these trends and develop corresponding strategies to cope with potential market turmoil.

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