CandleFocus

Almost 15 Billion Shiba Inu (SHIB) in 24 Hours: Are Whales Ready?

Author: Content Editor
The price of Shiba Inu (SHIB) has been struggling to maintain recent highs, indicating waning momentum. However, on-chain data shows interesting patterns that could suggest a future rebound or further drops. While impressive, the transaction volumes recorded in the past 24 hours are lower than the recent seven-day high. There has also been a decline in whale activity, suggesting large holders may be reducing their holdings. The price is currently testing a support zone, and a break below it could trigger a more severe correction. The relative strength index suggests less buying pressure, and the decline in trading volume may indicate a decrease in interest from individual investors. Despite this, high transaction volumes and whale movements suggest potential for another breakout. To attract institutional and retail players, SHIB would need to recover and maintain a move above a specific level. Monitoring whale activity and support levels will be crucial in determining SHIB's future direction.

Related News