Recent data indicates that over 10 trillion Shiba Inu (SHIB) tokens were transacted within a single day, largely due to whale investors' activities.
Comparing Current Volumes to Historical Peaks
In previous bullish cycles, Shiba Inu consistently experienced transaction volumes exceeding 18 trillion tokens. Such spikes in activity often signaled strong interest from major holders and a robust market trend.
Price and Support Analysis
Chart analysis reveals that SHIB is hovering near a crucial support level. Its recent bounce from the 50-day Exponential Moving Average (EMA) signals an attempt at recovery, yet current trading volumes do not support a sustained upward trend.
Market Sentiment and Whale Activity
Analytics from IntoTheBlock suggest high transaction volumes often foreshadow significant market movements. The current volume lacks clear patterns of accumulation or distribution, indicating moderate activity.
Although the trading of 10 trillion SHIB tokens in one day is noteworthy, it does not indicate a decisive market shift. Renewed interest and significantly higher trading volumes are crucial for upward trajectory.
