The cryptocurrency Shiba Inu has experienced a surge in transaction volume, reaching almost 2 trillion tokens in the past 24 hours. This indicates increased activity in the network and suggests there may be volatility or price changes when trading starts next week. The high transaction volume could indicate significant accumulation or distribution, potentially signaling traders or institutions getting ready for a big move. Despite the high volume, SHIB is currently trading at a stable level around $0.0000170. However, it has shown sensitivity to large trades, suggesting a potential price spike if buying pressure increases. Conversely, a sell-off or liquidation could lead to a price decline and a test of the current support level. The main support level for SHIB is $0.0000165, and a move toward $0.0000180 would indicate strength and the possibility of a rising trend. The high volume before the trading week begins may make SHIB's price movements more volatile on Monday, potentially resulting in a breakout or a test of support. Traders should closely monitor this spike in on-chain activity as it will likely be a deciding factor for SHIB's future price movements.
- Content Editor ( u.today )
- 2024-10-27
2 Trillion Shiba Inu (SHIB) in 24 Hours: Something to Happen on Monday?