With a 137% increase in just one day, #shibaInu is seeing a huge spike in large transaction activity, which is bringing the meme coin back into the spotlight. Whale activity has increased significantly enough to suggest a potential market shift even though price action has not reflected this jump with the same vigor.
Currently $SHIB is trading close to $0.000014, which is just above the 100 EMA, a crucial support level that served as the catalyst for its most recent breakout. The token is nevertheless perilously close to losing its 26 EMA, which was a useful short-term trend indicator during the most recent surge. Any short-term #bullish continuation could be rendered invalid by a break below this level.
Technically speaking, despite SHIB's efforts to consolidate close to its local highs, the volume profile shows declining activity. This discrepancy, which shows a lower volume and a persistently rising price, frequently indicates buyer exhaustion or the beginning of a reversal. Given the high percentage of large holders (74%) and the comparatively small order book, #SHIB may see significant price swings in either direction based on how whales play it next.
With "In the money" metrics and net network growth flashing red, on-chain signals are still primarily bearish. Retail interest appears to be stagnating and the number of Telegram users decreasing. The $36.78 million trading volume of SHIB, however, indicates that liquidity is present and that any sudden catalyst ā whether favorable or unfavorable ā could quickly cause volatility. Even with its meme coin origins, SHIB still has a cultlike following and a huge $8.76 billion market capitalization. But this is a make-or-break area based on the available data. Resurgent volume and a bounce off the 100 EMA could cause SHIB to retest $0.000016. On the other hand, if important support is not maintained and the transaction momentum keeps dropping, it could fall back to $0.000012 or even $0.0000113. Keep an eye on the 26 EMA; if it folds, the current rally may end quickly.
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