shiba inu Last week, the battle between bulls and bears continued, consistently trading above $0.000021. On-chain data shows significant whale movement during this period, resulting in trillions of SHIBs. Mixed in and out of exchange.
The price of SHIB declined early in the week due to the previous week’s prolonged sell-off. As the week went by, things started to get better. change to bullish behavior Resistance just below $0.000028 over the weekend. Interestingly, whales’ on-chain transaction data shows that major holders moved trillions of SHIBs over the weekend, with 3.19 trillion SHIBs moved in the last 24 hours.
Recent on-chain data shows massive SHIB whale activity
According to IntoTheBlock According to large-scale transaction volume data, the number of Shiba Inu transactions worth more than $100,000 increased significantly last week, with the value of transactions worth more than $100,000 reaching $661.5 million. On April 19 alone, this group’s SHIB transactions reached 6.36 trillion SHIB, worth $144.76 million. Notably, the largest transactions in the last 24 hours amounted to $3.19 trillion worth of SHIB worth $82.49 million.
There are too many SHIB on the move, the biggest question is where are these whales sending their tokens? Interestingly, on-chain data showed a large volume of transactions consisting of movements in and out of exchanges, indicating mixed feelings from large holders. all notable deals On Sunday, 100 billion SHIB tokens were moved to cryptocurrency exchanges. Investors are speculating that this could be a potential sell-off for the whale, suggesting that prices may fall in the near term.
What does this mean for Shiba Inu owners?
For the average SHIB investor, whale activity can be both hopeful and worrisome. While transactions with more large holders may indicate increasing mainstream interest and adoption of the token, their movement also Has a big impact on price. Shiba Inus enjoy positive price movements when whales gather on the exchange. However, movements to exchanges, as was the case with the 100 billion SHIB trade on Sunday, suggest a sell-off.
As of this writing, SHIB is trading at $0.00002726, up 6.65% from 0.00002556 over the last 12 hours. Shiba Inu is also up 16% over the longer seven-day period; Cardano replacement In market capitalization ranking.
SHIB price movement this week Must be full of action As the stock develops, the bulls are now retesting the $0.000028 resistance. According to “In/Out Of The Money” by IntoTheBlock metric system, 6.62 trillion SHIB tokens have been purchased at this price level and 28,760 addresses are waiting to profit. A break above this price level would indicate additional resistance levels at $0.000029 and $0.000030.
SHIB price at $0.000026 | Source: SHIBUSDT on Tradingview.com
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