The on-chain activity of Shiba Inu has significantly increased, despite facing price difficulties. A sharp rise in transaction volume was recorded in June.
Observing the Surge in Transaction Volume
In early June, the transaction volume of Shiba Inu soared to 24 trillion tokens. This increase is observed against a price resistance range of $0.0000130 to $0.0000140.
Strategic Accumulation Among Large Holders
A 600% increase in the volume of transactions from large holders has been noted. This indicates an underlying activity despite the stagnation of retail volume on exchanges.
Current Technical Situation and Its Implications
Technical indicators, such as the Relative Strength Index, remain below the 50 level, indicating a bearish trend. A sustained close above the $0.0000140 mark is needed for a possible trend reversal.
The current activity dynamics of SHIB pique interest among market participants, and monitoring for a potential trend change remains pertinent.
