According to U.Today, Shiba Inu has experienced a significant increase in activity, with approximately 3.5 trillion SHIB tokens moving in the last 24 hours. This surge suggests a return of large investors, often referred to as whales, to the market. The heightened activity indicates that these large holders may be accumulating SHIB, potentially signaling a rekindling of demand. Such behavior is often a precursor to significant price changes, either upward or downward.
Shiba Inu is currently trading near the crucial $0.00002 price threshold, specifically in the $0.000019 range. Breaking this level could indicate a bullish trend, attracting more traders and investors. The rise in large transactions suggests that major players are making moves, possibly in anticipation of a price increase. Over the past seven days, SHIB recorded a high of 187 large transactions, a notable increase from the seven-day low of 38 transactions recorded on July 11, 2024.
This increase in activity and large transactions indicates growing confidence among investors, who may be expecting positive price changes soon. However, it is important to consider the current levels of liquidity and trading volume. Sustained high volume is necessary to maintain upward momentum despite the surge in large transactions. The SHIB chart shows that the token is approaching significant resistance levels, particularly around $0.00002, which has historically served as a psychological barrier.
