New on-chain transaction data shows significant increases in whale activity in the Shiba Inu ecosystem. Rising transaction volumes indicate potential market changes.
Whale Activity on the Market
According to recent data, there has been a 525% increase in transactions worth between $1 million and $10 million. This indicates a renewed interest from major investors, often preceding significant market changes.
Technical Analysis of SHIB
The current price of the SHIB token stands at approximately $0.00001293, attempting to recover from a recent decline. It is bouncing back from a support level of $0.00001200, heading toward the 100-day EMA, around $0.00001323.
Growth Prospects for SHIB Value
Whale activity may lead to significant price growth. A breakout above $0.00001323 could trigger a move toward $0.00001450 and higher. Conversely, if prices do not continue to rise, a retest around $0.00001200 may occur.
The recent awakening of whales in the Shiba Inu segment suggests potential market changes. However, future price movement will depend on SHIB's ability to break key resistance levels.
