In the middle of the uncertainty of the current market, Shiba Inu (Shib), the popular play and the largest piece of cryptographic memes, drew the attention of crypto lovers and took a big step. Today, on February 6, 2024, Alert Whale, Blockchain Transaction Tracker Whale published on X (formerly Twitter) that a crypto-beaine transferred 1,239 Billion of shib tokens, worth $ 20.136 million, from the Kraken Cryptocurrency Exchange.
The whale moves by 1.23 billion of sombrages
However, the address of the portfolio of this transaction remains unknown, and these important transactions after a massive drop in prices suggest a potential accumulation. The current feeling of the market seems to be lower, because SHIB, as well as the great cryptocurrencies, have experienced significant price reductions in recent days.
Technical analysis of Shiba Inu (SCH) and level to come
In the midst of this market accident, Salogner experienced a drop in prices of more than 35% and reached the crucial level of support of $ 0.0000,15, which has a price reversal history.
Based on the action of recent prices and historic momentum, if Shib holds this level of support, there is a high possibility that it can rise by 30% to reach the level of 0.00000020 $ in the next days. However, the current feeling seems unfavorable for the expected level due to current economic tensions between the United States, China, Canada and Mexico.
Nevertheless, this level seems to be an ideal purchasing opportunity. Shib is currently negotiating below the exponential mobile average (EMA) on the daily time, which indicates that it is in a downward trend.
Major liquidation levels
With this price action, traders are over-designed at the level of $ 0.0000,155 on the lower side and the level of $ 0.0000165 on the upper side, according to Rinsing data.
If the feeling of the market remains unchanged and the price falls below the level of $ 0.0000,155, almost $ 350,000 in long positions will be liquidated. Conversely, if the feeling changes and the price rises in terms of $ 0.0000,165, around $ 625,000 in short positions will be liquidated.
During the combination of these measures on chain with technical analysis, it seems that traders occupy short positions dominate the assets.
Current price momen
Currently, the room even is negotiated nearly $ 0.0000,158 and has increased prices of more than 2.80% in the last 24 hours. However, during the same period, its volume of negotiation fell by 25%, which indicates a lower participation of traders and investors compared to previous days.