CandleFocus Shiba Inu (SHIB) Jumps 136%, but Price Remains Unchanged
2024-09-21
Author: Content Editor
Dog-themed cryptocurrency Shiba Inu (SHIB) has experienced a significant increase in whale activity, with large transactions rising by 136% in the last 24 hours. Despite this surge in activity, the price of SHIB has not reflected this increase. It is unclear why this is the case, but potential explanations include whales slowly accumulating SHIB or the market absorbing the increased activity without causing a significant price increase. Shiba Inu has been outperforming the top 20 cryptocurrencies in terms of daily gains, suggesting that overall market sentiment may have influenced its price action. If the price breaks above the daily SMA 50, it could continue its current bullish momentum and reach targets of $0.000016 and $0.0000208. However, if the price falls below $0.000014, SHIB may continue to trade within a range or resume a downtrend.
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