Shiba Inu (SHIB) Witnesses Astounding 1,288% Surge Amidst Whales’ Vigorous Buying Spree to Eliminate Zero

In a remarkable turn of events, the dog-themed cryptocurrency Shiba Inu (SHIB) has experienced an astonishing surge of 1,288% in whale activity. Bulls actively engage in fervent endeavors to obliterate a zero from the SHIB price.

Market Movement and Current Status

As of the latest update, SHIB is trading just below the $0.00001 mark, reflecting a 3.26% increase in the last 24 hours, reaching $0.000009419. Notably, IntoTheBlock data indicates a staggering spike in large transaction volume, denoting the total amount transacted in cryptocurrency through significant transactions.

Large transactions, categorized by transfers exceeding $100,000, have surged, signifying heightened activity among whales, whether in buying or selling. According to IntoTheBlock, the large transaction volumes have soared to 9.38 trillion SHIB in the past 24 hours, marking the highest volume in the last seven days.

Market Volatility and Recent Trends

Shiba Inu encountered a dip, reaching lows of $0.0000085 in the previous day’s trading, aligning with the broader market decline as investors anxiously awaited the SEC’s decision on a Bitcoin spot ETF. However, the market sentiment swiftly shifted as Bitcoin surged to a 21-month high. Correspondingly, Shiba Inu rebounded, reaching highs of $0.0000096 on January 8, but fell short of breaching the $0.00001 threshold.

Current Challenges and Potential Breakthroughs

Despite the bulls’ persistent efforts to propel SHIB towards the $0.00001 level, the crypto asset faced resistance at $0.000096 in today’s trading. Notably, the daily Moving Average (MA) 50 level at $0.0000967 poses a substantial hurdle that may continue to impede the bulls’ mission to eliminate a zero from Shiba Inu’s price unless successfully breached.

Should the bulls triumph and breach the MA 50 level, paving the way for SHIB to attain the $0.00001 mark, the cryptocurrency may subsequently target the $0.000011 level. Conversely, if bears gain dominance, SHIB could retest lower levels around $0.0000085. The ongoing battle between bulls and bears is closely watched, shaping the future trajectory of Shiba Inu in the volatile crypto landscape.

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Disclaimer: The information in this article should not be considered anything as financial advice, and FXCryptoNews articles is intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.