Shiba Inu 1.28 Trillion in 24 Hours: Is SHIB Back?
Shiba Inu is making a significant comeback. SHIB whales, who often set the direction of the market, have transacted over 1 trillion SHIB in total in the past 24 hours.
Significant SHIB holders have been more active lately, suggesting that interest in the token may be reviving and its value could increase. On-chain data is encouraging. There has also been a notable increase in the amount of large SHIB transactions: in the past 24 hours alone, 56 transactions were recorded.
Compared to the seven-day low of just six transactions, this has been a significant increase, which could indicate that large holders are starting to participate again. Since whale actions often affect the mood of the market as a whole, this type of movement often precedes price changes.
In addition, the amount of SHIB exchanged in these transactions is notable. It was clear that the market was already heating up when it reached its seven-day high of 2.12 trillion SHIB on August 21, 2024. Whales may be positioning themselves for a potential rise in SHIB price, as indicated by the large volumes being transacted. SHIB is currently trading at $0.000015, according to an analysis of market data, and its price is starting to stabilize after a prolonged decline. With regards to the start of a new uptrend, SHIB has been attempting to break above its resistance levels in the most recent price action, especially around the $0.00001554 mark. The increased whale activity, coupled with the current price dynamics, point to a potential recovery for SHIB. The market is still choppy, so it is not a guarantee of a proper recovery, but rather a sign of additional support for SHIB’s potential future performance.$SHIB#MtGoxRepayments#BinanceLaunchpoolDOGS#TelegramCEO#Write2Earn! $USDC $

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