Shiba Inu whales move 1.52 trillion SHIB overnight, meme coin gears for recovery
Shiba Inu, one of the largest meme coins in the crypto ecosystem, seems to be gearing towards a price recovery, according to the latest on-chain devel...
- Shiba Inu has experienced a spike in large volume transactions in the past 24 hours, with 1.52 trillion SHIB tokens being moved.
- These transactions, worth $11.11 million, indicate an increase in user activity and may fuel volatility in SHIB's price.
- Despite a downward trend since August 12, SHIB has gained 5% from its three-month low on September 12.
- The meme coin's price is currently below its long-term moving averages, but the recent surge in whale transactions could support a breakout from the downward trend.
The article suggests that the recent spike in large volume transactions for Shiba Inu could potentially lead to a price recovery and a breakout from its downward trend.