- Strange increase
- Short-term SHIB picture
On Saturday, Shiba Inu saw an incredible spike in token activity, with 7.17 trillion SHIB being transferred in a single day. This surge in transfers is significantly higher than typical activity levels and signifies a quick infusion of liquidity onto the market, per Etherscan data. Although this might be seen as a bullish sign by some, history indicates that sudden inflows like this are frequently connected to whale movements or exchange-related changes, which can cause volatility instead of steady growth.
Strange increase
There are more questions than answers raised by the enormous volume of transfers. Transfer counts for SHIB typically hover around a fraction of these levels, so the abrupt 7 trillion movement is unusual. This volume of activity frequently denotes transient speculative plays or redistribution across wallets and exchanges, rather than necessarily organic adoption. These spikes frequently come before abrupt reversals because they either indicate that whales are getting ready to exit the market, or that traders are being duped into believing they are making progress.
Technically speaking, this volatility is reflected in SHIB’s recent price action. A hard rejection caused the token to fall back below the 200-day EMA (black line), a crucial resistance marker, after momentarily rising above the $0.000015 level. A classic fakeout scenario is created by the failed breakout, trapping late buyers and returning control to sellers.
Short-term SHIB picture
Remaining close to short-term support zones that correspond to the 50-day and 100-day EMAs, the price is currently battling around $0.000013. After the unsuccessful EMA reclaiming, sentiment has obviously weakened, but SHIB may try another push upward if this support holds. With $0.0000120 serving as the next crucial support, a breakdown below $0.0000129 might lead to additional declines. On the other hand, a significant daily close above the 200 EMA and $0.0000145 would be necessary to reverse the bearish outlook.
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Not necessarily bullish, the 7.17 trillion SHIB transfer surge is a warning sign of market manipulation or repositioning by whales. In addition to the chart’s fakeout rejection, Shiba Inu finds itself at a crucial juncture. The comeback narrative may collapse into another protracted correction if buyers do not swiftly regain momentum above resistance. This appears to be less of a real rally and more of a top 2 fakeout for the time being.