As a seasoned crypto investor with a keen eye for on-chain data and market trends, I can’t help but feel an adrenaline rush as I observe the recent activity surrounding Shiba Inu (SHIB). The whales, those large entities with deep pockets and significant influence over the market, are showing signs of activity once again. This is a clear indication that something big may be on the horizon for this meme coin.
Signs of activity from large Shiba Inu (SHIB) investors, or “whales,” have emerged as the token’s price nears the brink of a major price surge.
Large-scale Shiba Inu transactions have surged on the blockchain, with these transactions exceeding $100,000. These transactions are typically made by “whales” – significant investors. Whale activity is often a harbinger of larger market shifts as they frequently buy large quantities of SHIB in anticipation of price upward trends.
As a researcher examining the latest cryptocurrency market trends, I’ve noticed some significant activity in the Shiba Inu (SHIB) community according to IntoTheBlock data. The transaction volume from large holders has seen a remarkable increase of 106.86% within the past 24 hours. This translates to an impressive 3.22 trillion SHIB tokens, equivalent to approximately $83.74 million in value. Additionally, there’s been a substantial surge in large-holder inflows, rising by 155%.
As a crypto investor, I’m keeping a close eye on the market as whales are making significant moves and transaction volume is surging. The anticipation is high as we wait to see how these large players will impact the prices. Recently, SHIB‘s price has managed to breach a resistance level that had previously kept it in check. This development could pave the way for an potential upward trend.
Following a number of challenging days attempting to surpass the $0.0000247 daily Simple Moving Average (SMA) mark for Shiba Inu, there was a significant shift on May 20th.
On Monday, Shiba Inu underwent a notable surge in trading activity due to the uptick in crypto markets fueled by optimistic news regarding the potential approval of U.S. Ethereum spot ETFs. This marked a change from last week’s bearish sentiment. Consequently, SHIB‘s value climbed from a low of $0.000023 to a peak of $0.0000261. This upward trend resulted in Shiba Inu surpassing its daily Simple Moving Average (SMA) 50 for the first time since, allowing prices to advance beyond this previously restrictive level.
As a financial analyst, I’d describe it this way: At the moment of my analysis, SHIB has experienced a noteworthy increase of 6.48% within the past 24 hours, reaching a price point of $0.00002546. Remarkably, this value surpasses the significant daily Simple Moving Average (SMA) 50 threshold.
As an analyst, I believe that the upcoming period is pivotal for SHIB as it hovers on the brink of a significant price surge. In the immediate term, a consistent price rise above the daily Simple Moving Average (SMA) 50 could serve as a catalyst for Shiba Inu’s continued upward trend.
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2024-05-21 15:47