A significant movement of Shiba Inu (SHIB) tokens has occurred within the past 24 hours, with a staggering 765 billion tokens being transferred among large entities in the market. The majority of these tokens are being sent to trading platforms like Coinbase, suggesting potential preparation for selling. This influx of tokens being moved for potential sale could exert significant pressure on SHIB's price, which is already under scrutiny. Analyzing the transaction history reveals substantial amounts, ranging from approximately 45 billion to over 123 billion SHIB, being deposited into major trading apps and platforms.

Technically, a distinct triangle pattern is emerging, indicating a tightening range of price movement. This pattern signifies alternating higher lows and lower highs, reaching a point where a breakout is imminent, akin to a coiled spring ready to release in either direction. The chart highlights two critical price levels: resistance around $0.000029 and a support level near $0.000019, with SHIB currently trading above key moving averages, offering a potential positive signal for token holders.

Depending on the prevailing trend, if selling pressure intensifies, SHIB's price may gravitate towards the lower support level. Conversely, a breakout above the triangle pattern could propel the price upwards, potentially testing new highs. With increased activity from whales and large traders, Shiba Inu's volatility may rise accordingly, possibly indicating a forthcoming bullish reversal for the token and signaling a potential shift towards a sustained recovery in the market.