Shiba Inu is gaining momentum. It has seen a remarkable 1.8 trillion tokens transacted in just 24 hours. This surge, primarily driven by whale activity, suggests a shift in market sentiment.
Whale Activity Spurs Momentum
Over the last 24 hours, Shiba Inu has seen a significant spike in transaction volume, largely due to massive whale movements. This influx has pushed SHIB closer to its recent seven-day high of 2.12 trillion tokens, recorded on August 21. Such heightened activity among whales, who are often strategic in their investments, hints at a possible price increase on the horizon.
Shiba Inu’s Uptrend May Attract Retail Investors
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The large transaction volume in Shiba Inu could mark the beginning of a longer-term uptrend. If this momentum continues, more retail investors might jump in, potentially fueling a substantial price rally. Current price dynamics suggest that SHIB could be stabilizing after a prolonged period of decline. It is already showing promising signs of recovery.
Key Levels to Watch for Shiba Inu
As Shiba Inu attempts to rebound, the $0.00001460 price level emerges as a critical point to watch. This level could serve as a foundation for a potential reversal. Moreover, SHIB is currently trading below both its 200-day and 50-day moving averages—key resistance levels in any market. However, if the momentum driven by whale activity persists, the dogged meme coin could break through these barriers, signaling the start of a new bullish phase.
Conclusion
Shiba Inu’s recent surge in whale transactions is a crucial development. As the market looks for direction, the growing momentum could trigger a significant price increase. Investors should keep a close eye on SHIB’s performance in the coming days. This comes especially as it approaches key resistance levels that could define its next move.
