Shiba Inu Whale Activity Rises 41% Amid Price Stability: Could This Signal Market Shift?
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Shiba Inu (SHIB) has recently experienced a significant 41% surge in large transactions, indicating a possible shift in market dynamics amid price stabilization. Following a long period of declining transaction volumes, this increase points to renewed interest from whale investors, suggesting potential strategic maneuvers. As noted by IntoTheBlock, “The sudden uptick in whale activity could signal a potential shift in market sentiment as SHIB consolidates.” Shiba Inu’s whale activity sees a surge, marking a 41% increase amid price stabilization at $0.00002759, signaling renewed market interest. Shiba Inu whale activity and transaction volume surge Shiba Inu’s large transaction volumes surged 41.39% recently, reflecting a total of 2.79 trillion SHIB, valued at $76.48 million. This spike comes after a noticeable decline since December 10th, when volumes dropped from 18.85 trillion SHIB to just 1.9 trillion SHIB by December 13th. Source: IntoTheBlock After a period of decline, the recent increase in whale transactions points to renewed interest from large holders. Typically, spikes in whale activity reflect strategic moves, such as accumulation or redistribution, both of which could influence price movement in the near term. SHIB holds steady amid volume fluctuations Shiba Inu’s price currently trades around $0.00002759, exhibiting resilience despite market volatility. The price chart shows that SHIB has maintained support above the 50-day moving average, indicating stability. However, the Bollinger Band Percentage (BBP) highlights a slight bearish signal as momentum slows, suggesting consolidation could persist. Source: TradingView Volume data on Santiment shows a declining trend over recent days, with current daily volumes sitting below 1 billion SHIB after peaking earlier in the month. Lower trading volumes during whale activity surges often reflect uncertainty among retail investors as they await confirmation of a broader trend. Daily active addresses show mixed trends Shiba Inu’s daily active addresses also mirror its volume activity. After peaking…
Filed under: News - @ December 16, 2024 1:21 pm