Shiba

Resistance

Shiba Inu

Trillion

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://u.today/shiba-inu-surges-6478-as-burn-rate-explodes-in-epic-week-details" rel="noopener noreferrer nofollow">Shiba Inu</a> has recently been at the center of surging activity with a staggering 3.7 trillion SHIB tokens transferred in various transactions over a 24-hour period. This frenzy has sparked a narrative full of speculation about implications of those large transfers and the potential effect they might have on the meme token's performance.
Large transactions often indicate a reshuffling of positions by major players, potentially signaling preparations for market moves, like price pumps or sell-offs, that can influence the token’s value. <img alt="SHIBUSDT Chart" data-entity-type="file" data-entity-uuid="640eb8af-7e28-4b9d-b89a-133623b3b01d" src="https://u.today/sites/default/files/inline-images/image_558.png"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">SHIB/USDT Chart by TradingView</a>
For instance, transfers from an exchange to a hot wallet might imply that an investor is moving SHIB to a more secure storage option, indicating a long-term holding strategy. Conversely, a transfer to an exchange might hint at an intent to trade or sell, suggesting increased market liquidity.
From a technical analysis perspective, SHIB's price chart reveals a story of heightened volatility and speculative interest. The TradingView chart shows <a href="https://u.today/shiba-inu-shib-rival-floki-jumps-by-50" rel="noopener noreferrer nofollow">SHIB</a> trading with a robust local support level at the $0.000020 region, an area that has provided a springboard for rebounds in the past. Resistance is looming overhead at the $0.000035 mark, a point where previous rallies have fizzled out.
The recent transaction surge has not yet translated into a significant price shift, keeping SHIB within a familiar range. However, the token's history is punctuated by rapid and unpredictable price movements, and with such a large volume changing hands, the possibility of a reversal cannot be dismissed.
Should the support level fail to hold, <a href="https://u.today/shiba-inu-shib-bulls-set-new-target-clearing-another-zero-amid-60-jump" rel="noopener noreferrer nofollow">SHIB</a> could be looking at a test of lower levels, potentially shaking out weak hands and setting the stage for a fresh price discovery phase.

3.7 Trillion Shiba Inu (SHIB) in 24 Hours: What's Happening With Meme Token?

U_Today

2024년 3월 10일에 게재된 다른 기사

Bitcoin Miners Gear Up for Reward Cut

Bitcoin Climbs to New Heights, Altcoin Predictions in Focus

Top VC Executive Projects Ripple Price Surge to $10; The Graph Rival Climbs the Crypto Ladder

Bitcoin Miners Invest Over $1 Billion in Equipment Purchase

Bitcoin Targets New Milestone: Cathie Wood’s ARK Invest Projects BTC to Surpass $1M Before 2030

Meme Coins Skyrocket – Shiba Inu, Dogwifhat, And KangaMoon Lead the Charge

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!