Popular meme coin Shiba Inu (SHIB) has experienced a significant increase in whale activity, with billions of SHIB tokens transferred in the last 24 hours. According to data from IntoTheBlock, the volume of large transactions worth over $100,000 and involving SHIB increased by 102.03%. Large trading volumes are often considered an indicator of whale activity. These large transactions were worth approximately $9.97 million in total and amounted to SHIB 1.02 trillion. Large trading volumes provide important information about the total amount traded by whales and institutional players on a given day.
There was a significant increase in major transaction volumes, from SHIB 513.97 billion on February 17 to SHIB 1.02 trillion on February 18. These spikes indicate high activity among whales, most likely buying or selling transactions.
Shiba Inu Price Weighs Next Move
On February 18, the total volume of recorded transactions was recorded at SHIB 1.93 trillion. This may include both trading and non-speculative activities. In this context, it can help identify turns and breakouts in the price movements of assets such as Shiba Inu. On February 17 and 18, Shiba Inu saw a steady increase in trading volume during a period when bulls were assessing the future course of the SHIB price.
Koinfinans.com As we reported, at the time of writing this news, SHIB increased by 0.97% to $ 0.0000097 in the last 24 hours. The bulls’ efforts to surpass the $0.00001 level and thus erase a zero from the SHIB price stalled over the weekend after they encountered rejection from this key level. SHIB rose to $0.00001005 on February 15 and 16, confirming resistance at this key level. In the short term, the bulls will look for a sustained break above the $0.000010 level to advance towards the $0.000011 and $0.000012 levels. On the downside, key support lies at $0.00000867 coinciding with the daily MA 50.
