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Shiba Inu

<ul> 
 <li>The recent on-chain activity for SHIB shows a resurgence in whale transactions, indicating renewed interest among major holders.</li> 
 <li>SHIB saw a significant transaction volume of 947.8 billion tokens in a day, marking a notable recovery from recent lows.</li> 
 <li>Despite increased activity, SHIB’s price remains stable, reflecting cautious market sentiment and a struggle to sustain upward momentum.</li> 
</ul> 
In order to signal a shift towards a bullish trend, Shiba Inu (SHIB) faces a critical challenge in surpassing resistance levels marked by its 26-day, 50-day, and 200-day EMAs.&nbsp; 
Recent developments in SHIB’s on-chain activity suggest a resurgence in whale transactions, a pivotal indicator for market sentiment. Following a notable decrease in large-scale transfers post the June 29 peak, the latest uptick of 47 significant transactions signifies renewed engagement among major holders.&nbsp; 
Notably, <a href="https://www.tradingview.com/symbols/SHIBUSD/">SHIB</a> saw a substantial transaction volume of 947.8 billion tokens in a single day, a significant recovery from the recent low of 6.24 trillion SHIB moved on June 24. This resurgence suggests that whales are re-entering the market with heightened interest, potentially influencing SHIB’s price trajectory. 
Despite the increased on-chain activity, SHIB’s current price remains relatively stable at around $0.00001709. The cryptocurrency continues to grapple with maintaining upward momentum amidst a market sentiment split between bulls and bears. As indicated by the Bulls and Bears indicator, there’s a balanced struggle between buyers and sellers, tilting slightly towards caution and bearish sentiment.&nbsp; 
As market observers track SHIB’s movement closely, the challenge lies in whether the cryptocurrency can break through its critical resistance levels set by the EMAs. This technical hurdle stands as a pivotal juncture for SHIB’s potential to shift towards a bullish trend, influenced in part by the evolving behavior of large-scale holders in the cryptocurrency market. 
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The post <a href="https://cryptonewsland.com/shiba-inu-to-overcome-resistance-key-emas-signal-bullish-potential/">Shiba Inu to Overcome Resistance: Key EMAs Signal Bullish Potential</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.

Shiba Inu to Overcome Resistance: Key EMAs Signal Bullish Potential

Crypto News Land

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