Peter Smith
Shiba Inu (SHIB) saw massive trading activity with 15.05 trillion tokens changing hands despite the price dropping 6.52% to $0.00001055.
SHIB (Shiba Inu) Trading Volume Hits Seven-Day High Despite Price Drop
A whopping 15.05 trillion SHIB tokens traded in the last 24 hours, marking a solid 61% jump in volume. But here's the thing - while traders were going crazy buying and selling, the price actually took a hit, falling 6.52% to $0.00001055. Weekly numbers look even worse, with SHIB down 12%.
This isn't just a SHIB problem though. The entire crypto market got hammered, with over $701 million in liquidations hitting traders hard. Market uncertainty sent everything into a nosedive, and about 175,725 traders got liquidated, with $618 million of that coming from long positions betting on higher prices.
SHIB has been bleeding since its June 11 peak of $0.00001362, seeing red on 11 out of 12 days. That's a rough streak by any measure, and it's got people wondering what's next for the popular meme coin.
Shiba Inu (SHIB)Price Tests Key Support Levels
The recent selloff pushed SHIB down to some pretty important price levels where buyers might jump back in. Today's low hit $0.00001028 - the same spot where it bounced back in April. That's not a coincidence.
The daily RSI also dropped into oversold territory, which often means a bounce could be coming. When an asset gets beaten down this hard, it sometimes snaps back pretty quickly. The question is whether buyers will step up or if more pain is ahead.
SHIB (Shiba Inu) Whale Activity Suggests Big Move Coming
Here's where things get interesting. Large holder inflows shot up 1,048% over seven days, with the biggest spike happening on June 16 when 15.05 trillion SHIB moved around. That's both a seven-day and six-month high, which usually means the big players are positioning for something.
When whales start moving this much SHIB around, it typically signals a major price move is coming. The question everyone's asking is simple: which way will it go?
For SHIB to stage a real comeback, it needs to hold above $0.00001000 and then break past the 50-day and 200-day moving averages at $0.0000134 and $0.0000163. If that happens, we could see the start of a new uptrend.
With over 15 trillion tokens traded in one day, there's definitely momentum building. Now we just have to wait and see if all this activity leads to the reversal SHIB holders are hoping for.
Peter Smith
