Recent surge in SHIB transaction activity has highlighted investors' interest in the cryptocurrency, reflected in significant trading volumes.
Record SHIB Transactions
Over 615 trillion SHIB was transferred in a 24-hour period, marking the highest activity level in the last 30 days. Data shows this spike occurred on July 18, when SHIB reached a price of $0.000015, the peak of its current resistance range.
Break Above Consolidation Zone
SHIB has recently broken above a multi-month consolidation range, supported by increasing trading volume and Relative Strength Index momentum nearing the overbought area. This signal usually indicates heightened market engagement but can also suggest caution if buying interest weakens.
Resistance Levels Ahead
The resistance band between $0.000015 and $0.000016 remains a key level to monitor. A strong close above this range, particularly with continued whale activity and increasing retail volume, could pave the way towards $0.0000172. If SHIB fails to hold its gains, support near $0.000013 may come into play again.
Overall sentiment around SHIB continues to improve, driven by sustained trading volume growth and positive technical momentum. The influence of high-net-worth wallets remains a key determiner of near-term direction.
