Recent data indicates a significant growth in network activity for Shiba Inu, which may signal further changes both in the market and within the network itself.
Increase in Transaction Activity
In the last 24 hours, over 615 trillion SHIB was transferred in large transactions, marking the highest volume in a month. This may signal a potential turning point for the asset both on-chain and in the broader market.
Technical Analysis of SHIB
According to market data, SHIB is currently testing the 200-day moving average, which has historically served as an important long-term indicator. After a prolonged consolidation period, the price has also broken above this level, indicating a potential bullish trend.
Price Outlook for SHIB
If SHIB can maintain its position above $0.0000145, it could pave the way for further upward movement. The key resistance zone lies between $0.000015 and $0.000016. Successful closing above this level could lead to a rise towards $0.0000172 and higher.
The recent surge in network activity and the current technical structure may indicate further opportunities for Shiba Inu, making it important to monitor market changes closely.
