CandleFocus Shiba Inu (SHIB) Makes Four Trillion Comeback in 24 Hours: What's Happening?
2024-10-29
Author: Content Editor
The cryptocurrency Shiba Inu (SHIB) has seen a significant increase in activity, with nearly 4 trillion SHIB transacting in the last day. This surge in activity is believed to be due to larger holders showing renewed interest, which could positively impact SHIB's price. On-chain data suggests that higher whale activity, or large transactions, typically leads to greater confidence among major players and can result in price stability or upward momentum. SHIB's increase from 895 billion SHIB to 3.73 trillion SHIB is a noteworthy achievement and has caught the attention of investors. The convergence of certain moving averages on the SHIB/USDT chart may signal potential breakout opportunities, and if sustained, could lead to further gains for SHIB. However, caution is advised as whale-driven volume doesn't always guarantee price increases; corrections have occurred in the past. Key support and resistance levels to monitor are $0.000017, $0.0000165, and $0.0000182. Breaking above these levels with ongoing whale support could indicate a longer bullish phase for SHIB.
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