• October 8, 2024, 1:23 pm
• October 8, 2024, 1:22 pm
• October 8, 2024, 10:28 am
Tuesday, October 8, 2024
October 08, 2024 at 04:31AM SHIBUSDT View!!
SHIBUSDT View!!
SHIBUSDT Perpetual Swap Contract OKX:SHIBUSDT.P
Based on on-chain data showing an increase in whale activity, Shiba Inu looks to be close to a possible recovery. More than three trillion tokens were transferred through major transactions on SHIB in the last day, which represents a notable increase in volume. Whale activity spikes like this one are unusual because they frequently occur before big changes in market prices.
The increase in significant transaction volume may indicate that whales, or large holders, of SHIB are getting ready for a possible price reversal despite their recent relative quiet. There is evidence that major players are beginning to accumulate again, as seen by the 165 large transactions that were recorded in the last day with a total volume of 3.02 trillion SHIB.
SHIBUSDT
Chart by TradingView
October 08, 2024 at 03:35AM SHIBUSDT potential test of Down Trend Resistance line
SHIBUSDT potential test of Down Trend Resistance line
SHIB / TetherUS BINANCE:SHIBUSDT
SHIBUSDT is currently in an accumulation phase, with the price oscillating around the 0.000015 level. The market has bounced off this support level twice before initiating an upward impulse move. The most recent swing upward was stronger than the previous one, signaling a potential increase in bullish momentum. Growing expectations of a possible bull run could act as a trigger for further upward movement. The market continues to bounce off the upward trendline, forming higher lows, which indicates buying pressure. Based on this analysis, the price could retest the channel border, potentially leading to further bullish momentum. The target is the resistance zone at 0.00002.
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