Shiba Inu (SHIB) is showing active market engagement. In recent days, over 3 trillion tokens have been exchanged, indicating high demand.
Shiba Inu Capital Flow
In the last 24 hours, SHIB transaction volumes exceeded 3 trillion tokens. This suggests that despite challenging price conditions, interest in the asset remains high. Previously, SHIB recorded daily volumes surpassing 10 trillion tokens, placing current figures at notably lower levels relative to its capacity. The increase in token transfers confirms that capital is circulating again.
Support Holding Strong
Currently, the 100 EMA and rising support line are preventing downside movement. The price is trading just below the 50 EMA, which is acting as short-term resistance. This leads to the formation of a narrow wedge structure, where once a direction is chosen, significant volatility may ensue. SHIB may attempt to retest resistance levels around $0.0000135 and possibly $0.0000144 if on-chain activity translates into increased buying pressure.
Prospects and Risks
If momentum can be regained towards a larger rally and these levels are cleared, it would pave the way for more comprehensive recovery. Conversely, if the rising support around $0.000012 fails to hold, SHIB faces the risk of further retracement, potentially delaying any recovery narrative. The continued strong network resilience remains a key takeaway for investors.
SHIB has the potential to surprise markets with unexpected spikes in volatility given transaction volumes in the trillions. However, the timing depends on whether this surge results in sustained demand.
