Shiba Inu, bulls continue to struggle to erase a zero from the SHIB price. In this context, there is an increase in whale activity. At the time of writing, SHIB is trading below $0.00001, rising by 4.25% in the last 24 hours to $0.0000093.
According to data from IntoTheBlock, Shiba Inu is seeing a 1,288% increase in large transaction volume, reflecting the total amount in crypto moved in large transactions. Large transactions refer to those transferring more than $100,000. Large Trading Volume indicates the total amount traded by whales or large holders in a single day. Increases in trading volumes indicate high activity among whales, such as buying or selling.
Koinfinans.com As we reported, according to IntoTheBlock data, major transaction volumes reached 9.38 trillion SHIB in the last 24 hours. This figure was the highest level in the last seven days. Investors’ SEC Bitcoin spot ETFWhile the market fell at the beginning of Monday, when the market was eagerly awaiting the decision regarding the Shiba Inu, it fell to $ 0.0000085 in yesterday’s transactions.
The crypto market quickly recovered as Bitcoin rose to a 21-month high and the tide suddenly changed. meme coin It also recovered in the same way, reaching $0.0000096 on January 8 and failing to reach $0.00001.
The bulls’ attempt to push SHIB towards the $0.00001 level was short-lived in today’s trading as SHIB hit a barrier at $0.000096 once again. On the upside, SHIB faces a hurdle at the daily MA 50 level at $0.0000967, which may continue to thwart bulls’ attempts to erase a zero from the Shiba Inu’s price.
Once this is achieved and SHIB reaches the $0.00001 level, it can target the $0.000011 level. On the other hand, if the bears gain the upper hand, SHIB could retest the lows near $0.0000085.