The surge in whale transactions coincides with a 2.22% rise in SHIB's price over the last 24 hours. Following a low of $0.00001231 on September 6, Shiba Inu has been in recovery mode, reaching a high of $0.0000137 by September 9. At the time of writing, the price slightly eased to $0.0000134. The overall market recovery, with Bitcoin bouncing back after a tough start to the month, has contributed to SHIB’s rebound.
The market is now watching SHIB closely, with bullish sentiment rising among investors. If Shiba Inu continues its upward momentum, a break above the 50-day and 200-day Simple Moving Averages (SMA) could see SHIB aiming for a price rally toward $0.00003. As cryptocurrency prices generally improve in the fourth quarter, Shiba Inu may benefit from positive market conditions.