Recent activity in the Shiba Inu market is tied to a significant increase in transfers by major token holders. The transfer volumes have reached new highs, raising interest in potential price changes.
Surge in SHIB Transfers
Shiba Inu saw a significant uptick in trading activity in recent weeks. According to IntoTheBlock, from August 12 to 13, major wallets shifted 351.6 billion SHIB, which is a 40 percent increase from the 240.13 billion transferred the day before.
Price Stability Amid Whale Activity
Despite the large transfer volumes, SHIB's price remained stable, hovering around $0.000014. This suggests that whales are likely securing their positions in personal wallets rather than preparing for sell-offs. In recent days, the price peaked at $0.00001425, then dipped to $0.00001360, and subsequently climbed back to $0.00001380, confirming the absence of panic selling.
Short-Term Target Levels for SHIB
Analysts note that with the current momentum, SHIB may target the $0.00001420 and $0.00001430 range. A bounce from these levels could push gains towards $0.00001480. Conversely, a breakdown below the $0.00001360 support might lead to a drop towards $0.00001320.
The current situation in the Shiba Inu market shows price stability amid significant transfers of tokens by major holders. The future of SHIB depends on its ability to hold key support levels and the potential directions of future price movements.
