Skip to main content

Shiba Inu Whales' Action Sees 124% Spike as SHIB Price Jumps
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Per IntoTheBlock data, the dog-themed cryptocurrency Shiba Inu (SHIB) is depicting a spike in whales’ action.

Shiba Inu’s large transaction volume has increased as the Shiba Inu price strives to recover from earlier losses.

The large Transactions Volume indicator from IntoTheBlock depicts the total amount transacted by whales on a given day.

In this regard, Shiba Inu was showing a 124.6% increase, indicating an increase in large transactions, which refer to those over $100,000 in the past day.

Increases in Large transaction volumes often point to high activity among whales, either buying or selling.

In the last 24 hours, $14.68 million was captured in large transaction volumes. In crypto value, 1.73 trillion SHIB accounted for large transaction volumes in the past day.

SHIB price action

At the time of writing, SHIB was marginally up in the last 24 hours to $0.00000884. Shiba Inu saw a sharp spike in early trading today, reaching $0.00000915.

Bulls initiated a rebound after yesterday’s see-saw price action, which saw SHIB touch highs of $0.00000919 before retracing below this level to reach intraday lows of $0.0000082.

Shiba Inu rose above this low, but bulls were unable to continue the rise, and Shiba Inu began to fall along with the rest of the market.

The crypto market led by Bitcoin has reversed earlier price gains as investors respond to the SEC delaying a decision on HashDex’s spot BTC ETF application.

On the upside, the $0.00000966 level remains the hurdle for bulls to clear for SHIB to lose a zero. If this occurs, SHIB may aim for the $0.00001134 level next.

On the other hand, SHIB appears to have developed sturdy support near $0.00008, or the daily MA 200 if drops intensify.


Source link

admin

Author admin

More posts by admin
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments