Shiba Inu (SHIB) is witnessing a sharp increase in activity amid significant sell-offs from major investors. The implementation of new technology within Shibarium is also drawing attention.
SHIB Transaction Volume and Whale Pressure
Currently, SHIB's transaction volume has reached 16.42 trillion tokens within 24 hours, largely driven by whale sell-offs. Analysts note that this may be a use of current prices as exit liquidity. The token's current price fluctuates around $0.00001179, struggling to maintain support above $0.000012.
Technical Analysis of SHIB and Possible Breakout
Trend analysis shows SHIB's price is under pressure, remaining below the 50-day and 100-day moving averages. Red volume bars continue to dominate, indicating sustained selling pressure. Historically, a sharp volume increase without corresponding price growth may signal bearish trends. However, SHIB has recently rebounded from key support at $0.00001155, which may indicate a potential reversal.
Launch of Alpha Layer for Web3 Development
Shiba Inu recently launched the Shib Alpha Layer on the Shibarium network, supporting multi-gas tokens and applying Fully Homomorphic Encryption (FHE) via ZAMA. This new capability will provide developers with tools to create applications with enhanced privacy and interoperability.
In conclusion, Shiba Inu continues to attract attention due to rising transaction activity and new technological advancements, highlighting its potential in the Web3 ecosystem.
