Peter Smith
Shiba Inu saw a massive 318 billion tokens change hands in 24 hours, but the price barely moved from $0.00001211. This disconnect between trading activity and price action is raising questions about whether the volume surge actually means anything for SHIB's direction.
SHIB Price Faces Moving Average Resistance
SHIB is trading at $0.00001211 with a 2.53% daily gain, but despite billions of tokens moving, the price isn't breaking higher. The meme coin is hitting resistance from key moving averages: the 50-day MA at $0.00001316, 100-day MA at $0.00001304, and 200-day MA at $0.00001488.
Until bulls reclaim these levels, rally attempts will likely get capped.
Volume Peak Doesn't Translate to Price Action
According to a Twitter post, SHIB's trading volume peaked at 3.49 trillion tokens on July 30th before dropping quickly. The market reaction was underwhelming, with RSI sitting at 38.46 – below neutral and showing fading momentum.
This volume-price disconnect suggests the massive transfers were likely whale repositioning rather than fresh demand. Without breaking above $0.00001220 and reclaiming key moving averages, SHIB may continue sideways or lower.
SHIB's weak response to heavy volume signals caution. Traders should watch for a move above $0.00001300 to confirm any bullish momentum.
Peter Smith
