Shiba

Read

Shiba Inu

Trillion

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
It is possible that Shiba Inu is about to surpass a six trillion <a href="https://u.today/dogecoin-shiba-inu-and-even-cardano-can-rally-in-2025-heres-why" rel="noopener noreferrer nofollow">SHIB</a> transaction volume, which would indicate increased activity and interest from major holders. The number of large transactions and overall transaction volumes fluctuate according to on-chain data, reflecting periods of interest in SHIB trading activity as well as periods of stagnation. The data provider IntoTheBlock shows 114 significant transactions totaling 2.21 trillion SHIB were made on <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">SHIB</a> in the last 24 hours.
This figure is significantly higher than the seven-day low of 628. 55 billion <a href="https://u.today/96000-per-bitcoin-for-miners-shiba-inu-soars-6153-in-weekly-burns-rich-dad-poor-dad-author-kiyosaki" rel="noopener noreferrer nofollow">SHIB</a> but it is lower than the most recent seven-day high of 5.99 trillion SHIB. This fluctuation in transaction volume indicates that although whale activity is sporadic on SHIB, long-term accumulation by major holders has not yet reached its full potential. <img src="https://u.today/sites/default/files/inline-images/image_1387.png" data-entity-uuid="58125be8-c686-4aa7-a36e-f6c4f00fd909" data-entity-type="file" alt="SHIBUSDT" data-caption="<a href=&quot;https://www.tradingview.com/&quot;>SHIB/USDT Chart by TradingView</a>">
The data shows an intriguing trend of large transactions peaking at particular times, such as Oct. 29 with 269 transactions. Whales may have been trying to position themselves for a possible recovery by accumulating at lower price levels at this peak.
However, the present price action does not point to a significant breakout attempt, with <a href="https://u.today/200-billion-shiba-inu-shib-suddenly-land-in-top-us-exchanges-wallet" rel="noopener noreferrer nofollow">SHIB</a> stabilizing at $0.00001760. Shiba Inu would have to overcome resistance at $0.00001850, a level it has frequently found difficult to reach in order to see a longer-lasting rally. There also seems to be a discrepancy between price movement and transaction volume. SHIB's price has stayed comparatively stable despite spikes in the volume of large transactions.
This could suggest that although big holders are active, they might not be actively buying or selling — instead they might be holding out for a more clear-cut market signal. Whale activity may trigger a move toward the next resistance level if big transactions get close to or exceed the six trillion SHIB mark.
However, the ability of SHIB to maintain higher volume over time will be a major factor in its potential recovery. The $0.00001850 resistance is a good place for investors to watch for indications of ongoing whale interest because breaking above it could pave the way for a stronger recovery. <a href="https://u.today/will-shiba-inu-shib-break-6-trillion-record" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Will Shiba Inu (SHIB) Break 6 Trillion Record?

U_Today

Other articles published on Nov 5, 2024

XRP price rises as analyst sees a big Ripple bull run ahead

New Telegram Game $PAWS Sees 20 Million Users Upon Launch

USDG Stablecoin Launches with Support from Robinhood, Kraken, and Galaxy Digital

Early Solana Investor Who Netted $30M Predicts 8,000% Gains for This Sub-$0.04 Token by 2025

Death of famous squirrel sparks scandal and meme coin rally: What’s going on?

Polymarket runs election betting ads via influencers despite US trading ban: report

Join our free newsletter for daily crypto updates!