1.5 Trillion Shiba Inu (SHIB) Transacted in 24 Hours: Is a Comeback Imminent?

Shiba Inu has seen 1.5 trillion SHIB tokens move in huge deals over the previous 24 hours. These whale-tier transactions take place during a significant volume rise in the market over the last 48 hours. Shiba Inu may finally attempt reversal mode.

Major exchanges such as Binance, Coinbase, Kraken, Gate.io, and Robinhood have made significant contributions to these transactions. The volume of SHIB transactions ranged from 42.6 billion to 397 billion SHIB, with values in millions of dollars.

Significant SHIB Transactions by Major Wallets: Binance, Coinbase, Cumberland, and Robinhood

Binance Hot Wallet transferred 357.4798 billion SHIB worth $7.82 million, suggesting significant movement, most likely due to exchange operations or large-scale deals, as per U.Today.

Coinbase Hot Wallet participated in several transactions, receiving 808 billion SHIB worth $1.88 million. This indicates large accumulation, possibly by regular investors or institutional actors.

Cumberland DRM made many payments, including sending 112 billion SHIB for $2.67 million and receiving 105 billion SHIB for $2.49 million.

Robinhood transferred 208 billion SHIB worth $5.09 million, most likely due to retail interest or platform-driven moves.

These significant changes, while spectacular, do not always imply quick price spikes or declines.

SHIB Price Consolidates in Descending Triangle, Testing Key Resistance Levels

The SHIB/USDT daily chart indicates that SHIB is presently trading at about $0.00002398. The price is consolidating in a descending triangle pattern, which is usually a bearish continuation pattern. However, SHIB recently tested the higher level of the structure.

The price is being squeezed between 50 and 100 EMAs, signaling a probable rise in volatility. A break above the 50-day EMA at $0.000024 could indicate a bullish turnaround, however failure to break this level could result in continued consolidation or a drop.

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