SHIB sees record transactions, with nearly six trillion tokens transferred in 24 hours.
Lead developer Shytoshi Kusama defends SHIB against criticism, citing strong historical growth.
SHIB’s uncertain future hinges on whether recent large transfers signal buying or selling.
Shiba Inu (SHIB) has seen a surge in transaction volume and public debate about its future. Almost 6 trillion SHIB tokens were transferred between major wallets in a single day, setting an October record. This increase in large transactions has fueled speculation about the reasons for the movement.
Record Transactions Fuel Market Uncertainty
According to on-chain data, nearly 6 trillion SHIB tokens changed hands between large wallets in the past 24 hours. This high transaction volume indicates increased activity, with 224 significant transactions recorded. SHIB has been trading in a narrow range, with resistance at $0.000020 and support around $0.000017.
Analysts are unsure whether this movement signals a bullish accumulation by institutional investors or a bearish sell-off. Historically, rising transfer volumes without a price increase often have indicated selling rather than buyi…
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