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SHIB Price- Shiba Inu Whale Activity Spikes 551% as Market Eyes Next Move
SHIB Price– Shiba Inu (SHIB) is back in the spotlight as significant whale activity surges, drawing renewed interest in the meme-based cryptocurrency.
Whale Transactions Surge to Highest in a Week
According to blockchain analytics firm IntoTheBlock, Shiba Inu (SHIB) recorded a 551% spike in large transaction volume over the past 24 hours. This translates to 1.6 trillion SHIB tokens, or approximately $18.24 million, moving across the blockchain. Large transactions—defined as those exceeding $100,000—are often used to track whale behavior, whether accumulation or distribution.
The 1.6 trillion SHIB in large transaction volume is the highest in the past seven days.
Since June 24, whale activity in Shiba Inu had remained relatively flat, even dipping to 236.19 billion SHIB on June 29. The recent spike could signal renewed interest from large holders who may be positioning ahead of a potential price move.
Accumulation or Repositioning?
The nature of these large transactions suggests a possible mix of accumulation and strategic repositioning. Supporting this view, large holder inflows also flipped positive, rising 271% over the past week, pointing to stronger interest from whales.
Shiba Inu (SHIB) Price Outlook: Key Levels to Watch
At the time of writing, SHIB was down 1.79% over the last 24 hours, reflecting a mild dip across the broader crypto market. On June 29, SHIB touched a weekend high of $0.00001198, but momentum faded as volume failed to follow through.
To shift bullish, SHIB would need a clean break above its 50- and 200-day moving averages at $0.00001298 and $0.00001553, respectively. Meanwhile, key support remains around $0.00001, where the token has previously bounced in April and late June.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
