Half Trillion SHIB Moved in 24 Hours: What’s Behind It?
Release: 2024/05/20 02:26 Reading: 369
Surge in Shiba Inu (SHIB) Transactions: What's Happening?
Over the past 24 hours, Shiba Inu has witnessed a surge in activity as various entities, including large investors and exchanges, have been actively moving their SHIB holdings. 
Significant Transactions
- Robinhood hot wallet transferred 45.01 billion SHIB (approx. $1.13 million) to another Robinhood wallet.
- Symbolic Capital Partners MEV Bot executed multiple transactions, each involving around 50 billion SHIB (ranging from $1.23 million to $1.26 million per transaction).
- Uniswap saw notable volume, with transactions like 50.8 billion SHIB ($1.26 million) and 50.4 billion SHIB ($1.23 million) being recorded.
On-Chain Data
Within the last 24 hours, there were 86 large transactions totaling approximately 1.14 trillion SHIB. This surge marks a significant increase from the seven-day low of 14 transactions and the seven-day high of 378 transactions.
Market Implications
SHIB has been trading within a symmetrical triangle pattern, suggesting indecision in the market. The recent uptick in whale transactions and large transfer volumes may indicate an impending breakout or a significant price movement. However, SHIB's price has been relatively stable, hovering around $0.00002450, with resistance at $0.000025 and support at $0.00002234.
Possible Reasons
- Whales and institutional investors repositioning their portfolios.
- Exchanges preparing for upcoming market events.
Important Note: This article provides information only and should not be construed as legal, tax, investment, financial, or any other type of advice.
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