The Shiba Inu token (SHIB) has experienced a high volume of on-chain activity, coinciding with strong movements from whale investors. The token is currently trading near a crucial resistance level of $0.000030, with strong support at $0.000026. The trading volume indicates mixed market sentiment, with a slight decline from a significant spike earlier this month. Whale activity has been significant, reaching a seven-day high of 21 trillion SHIB on December 2. The market's future direction will likely be influenced by the interaction between whale activity and individual investor actions. The asset is marginally overbought according to the RSI, suggesting a potential consolidation or retracement before the next significant move. To continue in a bullish manner, SHIB must break above the $0.000030 resistance, with a target of $0.000033. However, breaking the $0.000026 support could lead to a retest of $0.000022. Additionally, the movement of SHIB is dependent on both whale strategies and the broader market sentiment as major cryptocurrencies have stabilized after recent rallies.



Other News from Today