68 Trillion Shiba Inu (SHIB) Movement: Whale Play or Market Shift?
A massive 4.68 trillion $SHIB transaction volume spike was recorded in the past week, raising questions about who’s behind it and what it means for SHIB’s future price action. This unexpected surge in activity suggests potential institutional or whale involvement, but whether it signals a bullish breakout or a sell-off remains uncertain.
SHIB’s Price Struggles Amid Volume Surge
Current Price: $0.00001357 (+1.34% in 24 hours)
Key Resistance Levels: $0.00001662 - $0.00001700
Support: $0.00001185
Despite the volume spike, SHIB has struggled to break resistance, suggesting that high transaction volume does not necessarily translate to immediate buying pressure.
On-Chain Data: A Shift in Investor Sentiment?
Retail holders (1M-100M SHIB) are declining, signaling possible weak hands exiting (-0.98% & -0.48%).
Whales (100B+ SHIB) remain stable, hinting at strategic positioning rather than immediate selling.
Mid-tier investors ($1K-$10K holdings) dropped by -12.90%, possibly indicating a shift in confidence among smaller investors.
What’s Next for SHIB?
If SHIB holds above $0.00001468, it may test resistance at $0.00001700. However, if support at $0.00001185 fails, further downside could follow. Market participants should watch whale movements closely, as any large-scale buy or sell action could dictate SHIB’s next major price shift.
Will this massive volume lead to a breakout or a sell-off? Keep an eye on the charts!
