As a researcher with a background in cryptocurrency analysis, I’ve been closely monitoring the Shiba Inu (SHIB) market, and I must say that recent developments have been intriguing. The activity of major SHIB whales seems to be picking up again after a prolonged period of low transaction volumes.
Shiba Inu whale activity may be bouncing back following a significant dip and subsequent weak showing of the SHIB token in the cryptocurrency market. Keep a close eye on the latest on-chain developments as things move quickly in this dynamic space.
As a researcher studying Shibaswap (SHIB), I’ve observed that there have been 47 significant transactions recorded within the last day. This surge in activity among major holders implies a heightened level of engagement, possibly signaling renewed interest or strategic moves. Previously, we witnessed a substantial decrease in large-volume transactions which peaked on June 29, with a total of 47 such transactions. The recent spike in significant transactions represents an intriguing turnaround and serves as a noteworthy indication of potential whale activity.
SHIB recorded an astounding 947.8 billion tokens moved in a single day in terms of transaction volume. This surge comes after a seven-day peak of 6.24 trillion SHIB on June 24. Large holders may be increasing or distributing their holdings as indicated by the sharp increase in volume. Last week saw more modest values in terms of whale-tier transactions.
As a researcher studying the Shiba Inu (SHIB) cryptocurrency market, I’ve observed that despite the heightened activity on the SHIB network, the price remains relatively stable around $0.00001709. The chart illustrates this trend, revealing that SHIB has struggled to maintain its upward trajectory.
To signal a shift from a bearish to a bullish trend for SHIB, it’s necessary for the price to surpass the resistance marked by the 26-day, 50-day, and 200-day Exponential Moving Averages (EMAs). The sentiment towards SHIB in the market is somewhat divided.
The Battle between Bulls and Bears reflects a tightly contested struggle between buyers and sellers, with the edge slightly leaning towards the bears. This implies that the market as a whole remains wary of SHIB‘s near-term prospects and is unlikely to shift towards buying in the near term.
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2024-06-30 12:36