Shiba Inu (SHIB) has once again taken the crypto spotlight, with explosive market activity captivating both analysts and retail traders. Could SHIB be setting the stage for its next major move? Letās dive in!
š Key Highlights
Whales Take a Back Seat: Large SHIB transactionsāa key indicator of whale activityādropped 20.73%, equivalent to a staggering 4.78 trillion SHIB (around $121.29M) in just 24 hours.
Retail Traders Rise: With trading volume soaring 92% to hit $3.19 billion, the rally is now being driven by smaller, passionate investors stepping into the action.
Price Boom: SHIBās price surged 13%, reaching $0.00002768, with an intraday high of $0.00002816.
š Price Analysis
Resistance Levels: SHIB faces a critical test at $0.0000281. A breakout above $0.000029 could trigger a bullish inverted head-and-shoulders pattern, opening doors to targets like $0.000039 and even $0.000047.
Support Levels: A fall below $0.000023 would signal bearish pressure, potentially dragging SHIB down to the 50-day SMA at $0.000020.
š Whatās Fueling the Momentum?
The spotlight is now on retail traders, who are fueling SHIBās rise as whale activity slows. This surge in trading volume reflects growing confidence among smaller investors looking to capitalize on short-term growth opportunities.
š” What to Watch Next
If SHIB breaks through the $0.000029 resistance, it could ignite massive bullish momentum, pulling in even more market attention. However, volatility is likely, so traders should stay alert and plan their moves carefully.
š„ Final Takeaway
With the perfect mix of rising retail interest, reduced whale dominance, and critical resistance levels ahead, SHIBās chart is heating up! Will the bulls drive SHIB to new highs, or will the bears claw their way back?
š Keep an eye on SHIBāthe next breakout might just surprise you! Stay tuned on Binance for live updates and trading opportunities.
