Shiba Inu Reawakens: Could This Be the Next Big Meme Coin Surge?
Having recovered from its recent lows, Shiba Inu is once again in the public eye. Moreover, strong price activity has generated speculation about a positive bounce. Both traders and ardent believers will find this week’s performance to be laying the groundwork for an exciting story.
70% Jump in Shiba Inu Whale Trades Sparks Investor Curiosity
The activity of whales is another important plot point. Over the last 48 hours, there has been a 70% increase in major SHIB transactions. In the past, significant price swings have frequently preceded whale activity spikes, and volume stays continuously high (currently above $220M/day).
On the other hand, investors were uneasy about the recent Shibarium network exploit. As validators rushed to retrieve stolen assets, TVL dropped, and there was some confusion. However, the quick reaction and recovery in BONE staking show that devs and the community at large are still dedicated to creating a safe environment.
SHIB Moves Past Key SMA Level, But Can It Break the 100-Day EMA Barrier?
The past week has been an extremely interesting journey for SHIB. The SHIB price is currently at $0.00001269 following a notable 8.30% increase for the week and a slight 0.24% decline over the last day. SHIB is undoubtedly retaining its position as a high-liquidity altcoin, as evidenced by its market capitalization of over $7.47 billion and its 24-hour trading volume of about $229 million.
SHIB‘s move over its 7-day SMA at $0.00001246 is among the most encouraging moves, signaling a shift in the short-term trend. Concurrently, the MACD histogram recently turned positive, suggesting that bullish momentum may be accumulating below the surface. But the $0.0000135 resistance, indicated by the 100-day EMA, is the focus of all attention.
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