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765 Billion Shiba Inu (#SHIBA🔥 ) Tokens in 24 Hours: What's Happening? A massive amount of Shiba Inu tokens has been on the move. In the last 24 hours, 765 billion SHIB tokens were found being transferred between large entities on the market. Most of these SHIB tokens are being sent to trading platforms like Coinbase, which often means that the holders might be getting ready to sell. If lots of tokens are being moved to be sold, SHIB's price might face a substantial surge of pressure, which is the last thing the token needs right now. Looking at the detailed transaction history, we can see huge amounts - ranging from about 45 billion to over 123 billion SHIB landing in the hands of major trading apps and platforms. From a technical perspective, there is a distinguishable triangle pattern forming. This means the price has been bouncing between higher lows and lower highs, coming to a point where it has to break out. Think of it like a coiled spring that is ready to jump out in either direction. The chart shows two important price levels to keep an eye on: one where the price struggles, with resistance at around $0.000029, and another where it does not seem to fall below, near $0.000019. Right now, SHIB is trading above the key moving averages, which may be a positive sign for those holding the token. For now, if the trend shows more signs of selling, the price could head toward the lower support level. On the flip side, if SHIB breaks out above the triangle pattern, we might see the price rise and test new highs. As the activity of whales and large traders surges, we might see Shiba Inu's volatility increase on par with it. The market could be on the verge of a prolonged recovery, and the surge in Shiba Inu transactions might be a precursor to a bullish reversal for the token. #cpi #bitcoinhalving #BullorBear #Memecoins

765 Billion Shiba Inu (#SHIBA🔥 ) Tokens in 24 Hours: What's Happening?

A massive amount of Shiba Inu tokens has been on the move. In the last 24 hours, 765 billion SHIB tokens were found being transferred between large entities on the market.

Most of these SHIB tokens are being sent to trading platforms like Coinbase, which often means that the holders might be getting ready to sell. If lots of tokens are being moved to be sold, SHIB's price might face a substantial surge of pressure, which is the last thing the token needs right now.

Looking at the detailed transaction history, we can see huge amounts - ranging from about 45 billion to over 123 billion SHIB landing in the hands of major trading apps and platforms.

From a technical perspective, there is a distinguishable triangle pattern forming. This means the price has been bouncing between higher lows and lower highs, coming to a point where it has to break out. Think of it like a coiled spring that is ready to jump out in either direction.

The chart shows two important price levels to keep an eye on: one where the price struggles, with resistance at around $0.000029, and another where it does not seem to fall below, near $0.000019. Right now, SHIB is trading above the key moving averages, which may be a positive sign for those holding the token.

For now, if the trend shows more signs of selling, the price could head toward the lower support level. On the flip side, if SHIB breaks out above the triangle pattern, we might see the price rise and test new highs.

As the activity of whales and large traders surges, we might see Shiba Inu's volatility increase on par with it. The market could be on the verge of a prolonged recovery, and the surge in Shiba Inu transactions might be a precursor to a bullish reversal for the token.

#cpi #bitcoinhalving #BullorBear #Memecoins

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💲 Shiba Inu Spotlight 💲 1,084 Days After Vitalik Buterin's Historic 410 Trillion SHIB Burn 🔥 A Historic Moment in Crypto History! 🔥 Nearly three years ago, Ethereum co-founder Vitalik Buterin shook the crypto world by executing a massive burn of Shiba Inu (SHIB) tokens, removing a staggering 410 trillion from circulation. This bold move, valued at $6.7 billion, marked a pivotal moment for SHIB and the broader market. On May 17, 2021, Buterin burnt 90% of his SHIB holdings, reducing the total supply by almost half, and donated the remaining 10% to charity. His act reflected a commitment to decentralization and community empowerment. Now, 1,084 days later, the impact of this historic burn continues to reverberate. While the immediate aftermath saw a mild price spike, the long-term effects have been nuanced, reflecting the complex interplay of technological advancements, market dynamics, and investor sentiment. With SHIB's current price reflecting a complex mix of factors, the Buterin burn remains a landmark event in crypto history, now valued at a whopping $10 billion. The Shiba Inu community has continued to advance SHIB burns, with recent burns totaling billions of tokens, alongside BONE and LEASH. In the last 24 hours alone, over 4.7 million SHIB tokens were burned in six transactions, underscoring the ongoing commitment to reducing supply and supporting the token's value. Stay tuned as the crypto landscape evolves, and let's continue to celebrate the milestones that shape our decentralized future! 🚀#SHIBBreakout #SHIBA🔥 #SHİB #CryptoWatchMay2024
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What Does the Halving Mean for Bitcoin's Price? Even though the general schedule of the halvings is known to the market beforehand, the 50% drop in the regular creation of new bitcoin is thought to lead to an alteration in the crypto asset's supply and demand dynamics. The bitcoin price has reached a new all-time high in the months following each of the previous three halving events. Analysts say that this bitcoin halving is different for a number of reasons and that a bitcoin rally may not ensue. The largest cryptocurrency by market capitalization hit a new all-time high this four-year cycle prior to the actual halving taking place for the first time in its history. Bitcoin demand from spot bitcoin exchange-traded funds (ETFs) was largely credited for the rally. Many analysts believe that a demand-supply mismatch thanks to greater demand from the ETFs and limited supply after the halving, could propel bitcoin prices higher. Analysts at Deutsche Bank say that the halving is "partially priced in" and that they do not "expect prices to increase significantly following the halving event." Other analysts are worried that higher-for-longer interest rates make riskier assets such as cryptocurrencies less attractive as Treasury yields remain elevated. "Whether BTC halving will next week turn out to be a 'buy the rumor, sell the news event' is arguably less impactful on BTC’s medium term outlook, as BTC price performance will likely continue to be driven by the said supply-demand dynamic and continued demand for BTC ETFs, which combined with the self-reflexive nature of crypto markets is the primary determinant for spot price action," Goldman Sachs analysts wrote in a note last week, according to Coindesk.2 Bitcoin is certainly suffering some pre-halving jitters. After creating multiple price records in March, the price of bitcoin has been in a more pronounced downtrend since April 8. #Megadrop #bitcoinhalving #BullorBear #Memecoins #Memecoins $BTC
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