10 Trillion Shiba Inu Tokens Transacted: What Does It Mean for SHIB?
Table of contents
Historical Context: Comparing Current and Peak Volumes
During previous market rallies, Shiba Inu transaction volumes exceeded 18 trillion tokens, signaling strong interest from major holders and an active market. By comparison, bearish periods typically saw volumes drop below 10 trillion tokens.
The current volume places SHIB in a middle ground—above bearish thresholds but still far from indicating a robust bullish trend. This subdued activity suggests a lack of strong buying or selling pressure, leaving the asset in a consolidation phase.
Price Analysis and Key Support Levels
SHIB’s price recently rebounded from its 50-day Exponential Moving Average (EMA), offering a glimmer of hope for recovery. However, the 10 trillion token volume does not reflect the market participation needed to drive a sustained upward trend.
What’s Next for SHIB?
Analytics from IntoTheBlock suggest that high transaction volumes often precede major price movements. However, the current data lacks clear signs of accumulation or distribution by whales. This indicates a critical juncture for SHIB, where increased activity from large stakeholders could act as the catalyst for a bullish breakout.
For now, Shiba Inu remains in consolidation. A surge in trading volumes will be essential for the asset to regain upward momentum and achieve its next major price move.