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With an incredible figure of 11,390 billion SHIB In terms of trading volume over the past day, Shiba Inu has seen a lot of on-chain activity. This increased activity coincides with strong whale movements, which are often important market drivers for asset momentum. price.
According to the chart, SHIB is currently trading near the $0.000030 level, which is starting to show signs of crucial resistance. On the downside, $0.000026 shows strong support, which could serve as the basis for a recovery in the event of a liquidation of the asset. The mixed market sentiment is indicated by trading volume, which is still relatively stable but slightly behind the huge spike earlier this month.
Whale activity peaked at 21 trillion SHIB on December 2, a seven-day high, as shown in the chart of large trading volumes, highlighting their important role in market liquidity. Large price movements are often preceded by this level of activity, which can lead to breakouts or consolidations.
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The market’s trajectory in the coming days will likely be influenced by the interaction between whale activity and the actions of individual investors. According to SHIB’s RSI (Relative Strength Index), the asset is currently slightly overbought, but not to an extreme level. This suggests a potential short-term consolidation or slight retracement before the next significant move, when associated with declining volume.
SHIB needs to break through the $0.000030 resistance in order to continue on a bullish path, with $0.000033 being the next target. However, if the $0.000026 support is broken, there could be a chance to retest $0.000022, which could see increased demand. Another important factor is the broader market context.
SHIB’s movement depends on both whale strategies and macroeconomic sentiment as major cryptocurrencies have stabilized after recent rallies.