Shiba Inu (SHIB) may soon surpass a six trillion SHIB transaction volume, a benchmark that would reflect growing activity among large holders. Recent on-chain data suggests that transaction volumes and the number of large trades involving SHIB vary, reflecting shifts in interest from major stakeholders. Data from IntoTheBlock reveals that in the past 24 hours, SHIB saw 114 significant transactions, totaling 2.21 trillion SHIB.
Fluctuations Highlight Whale Activity
This 24-hour transaction total far exceeds the recent seven-day low of 628.55 billion SHIB, yet it still trails the seven-day peak of 5.99 trillion SHIB. These fluctuations highlight how whale activity in SHIB trading is sporadic, with accumulation patterns among major holders still potentially unfulfilled.
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Large transactions often cluster during particular times, as seen on Oct. 29, which recorded 269 significant trades. This timing suggests that some whales might be positioning themselves for a possible rebound by buying at relatively lower price points.
Current Price Faces Resistance at Key Level
Despite the increase in major transactions, SHIB’s price remains steady around $0.00001760, showing no clear breakout potential at the moment. To gain momentum, SHIB needs to surpass the resistance level at $0.00001850, a threshold that has proven challenging.
Source: CoinMarketCap
There is also a notable disconnect between transaction volume and price movement. Despite fluctuations in large transactions, SHIB’s price has stayed relatively stable, suggesting that big holders may be waiting for more definitive market signals rather than actively buying or selling.
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If whale transactions approach or exceed the six trillion SHIB mark, SHIB could see movement toward the next resistance level. However, to sustain a recovery, SHIB would need to maintain higher transaction volumes consistently.
The $0.00001850 resistance remains a critical point to watch, as breaking past it could open the path to a more extended recovery. For investors, signs of sustained whale interest at this level might indicate a shift in market momentum.
