u.today
Investor interest in Shiba Inu has increased following a sharp 200% increase in large transaction volume, a crucial on-chain indicator that frequently indicates an increase in whale activity. When paired with strong technical momentum, the large money inflow might be the catalyst $SHIB needed for a proper recovery.
Following a multi-day rally that started when the token broke through crucial resistance at $0.00001350, $SHIB is currently trading at about $0.00001439 USDT, up more than 1.2% on the day. $SHIB is now trading near its 100-day EMA, which is currently at $0.00001655 after rising above the 50-day EMA. The 200-day EMA could be tested close to $0.00001793 if there is a breakout above this level.
Robust on-chain signals support the price action. Whales, who are usually long-term players with significant influence over market direction, are becoming more involved, as evidenced by the nearly 200% increase in large transactions - defined as those exceeding $100,000.
Although significant transfers may be a sign of distribution or accumulation, the continuous price rise and consistent volume indicate that a large portion of this whale activity is driven by buy-side forces. Furthermore, the Relative Strength Index (RSI) has entered bullish territory at 58.8, suggesting that momentum is increasing without yet reaching an overextended level.
This gives $SHIB more space to rise before reaching possible exhaustion levels. Technically speaking, after months of bearish pressure, $SHIB may confirm a trend reversal if it holds above the 50 EMA and breaks the 100 EMA. Bulls are currently in control due to a favorable technical setup and whale-driven demand.
Shiba Inu may be preparing for a long-term rally, as both chart patterns and on-chain data line up. Perhaps the clearest indication yet that $SHIB's next significant move is upward is the resurgence of whale activity.