Whales Revive Shiba Inu (SHIB) Activity with 3 Trillion Tokens Transferred in 24 Hours

Recent on-chain data reveals a surge in whale activity for Shiba Inu (SHIB), indicating a potential recovery for the cryptocurrency. Over the past day, more than three trillion SHIB tokens were moved in large transactions, marking a significant uptick in trading volume. Such spikes in whale activity often precede major shifts in market prices.

This increase suggests that large holders of SHIB, who have been relatively quiet lately, may be preparing for a price reversal. In the last 24 hours alone, 165 substantial transactions were recorded, totaling 3.02 trillion SHIB. Historically, when whales accumulate SHIB, it creates buying pressure, which can lead to upward price movements.

Currently, SHIB faces resistance around the $0.00001800 mark. If whale buying continues, breaking above this level could signal a larger market rally, potentially pushing prices towards recent highs. The next crucial resistance point to watch is $0.00002000; surpassing this threshold would indicate a strong bullish trend is underway.

On the downside, $0.00001500 serves as key support. Maintaining this level will be crucial for sustaining the current uptrend, especially if the price struggles to break through resistance and starts to retrace. In summary, with over three trillion tokens transferred in just one day, the resurgence of whale activity for Shiba Inu suggests that significant holders are re-engaging, setting the stage for a possible price retracement if buying pressure continues.