Shiba Inu (SHIB) whale activity increased significantly over a 24-hour period, according to recent on-chain data. Over 3 trillion SHIB tokens were moved in large transactions, marking a significant uptick in market activity for the cryptocurrency.

The increase in large transactions suggests that prices may rebound, as similar patterns often precede major shifts in market trends. A large number of whale transactions indicates that funds are accumulating. Data shows that large holders of SHIB may be hoarding tokens again. In the past day, 165 large transactions were recorded, with a total transaction volume of more than 3 trillion SHIB. Such large-scale fluctuations in SHIB usually occur when important holders begin to strategically position for future price changes.

The resurgence in whale activity after a relative lull suggests these investors may be preparing for a potential price reversal. Historically, large accumulations by whales have led to buying pressure that has driven token prices higher.

Likelihood of a Price Breakout: Currently, SHIB is encountering resistance at the $0.00001800 level. If whale activity continues, market watchers will be watching closely to see if this resistance level can be breached. A break above this level could trigger a broader rally, pushing the coin’s price closer to its previous highs. Additionally, the next key resistance is located at $0.00002000, a critical threshold that, if breached, could signal the start of a more significant uptrend. This could happen in the future as large investors continue to accumulate SHIB.


Downside Risks and Key Support Levels: On the other hand, if SHIB fails to break above the current resistance and starts a retracement, then the key support level is $0.00001500. Holding this support will be crucial to sustain the current uptrend. If the digital asset breaks below this level, it could lead to a longer period of price decline.

For now, the outlook remains cautiously optimistic as whale activity continues to send bullish signals. However, traders and investors should keep an eye on these key levels to determine whether SHIB will maintain its upward momentum or face a potential reversal.

The article is for reference only and does not constitute investment advice.