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Shiba Inu witnessed a 115% rise in whale activity, pushing its price to $0.0000145. The surge signals strong investor confidence as SHIB approaches a critical resistance level.
Every day brings a new twist to the Shiba Inu (SHIB) ecosystem. On-chain statistics for the past 24 hours reveal that whale activity has surged in the popular meme-inspired cryptocurrency.
Whale Activity in SHIB Sees Major Spike
For example, 1.3 trillion SHIB were moved in huge transactions worth at least $100,000 yesterday, according to data from IntoTheBlock. This number is an increase of 115% from the previous day.
The number of substantial transactions increased by $10.15 million, which is the monetary measure of this growth. With 62 in all, the average size of each major transaction was 163,709, which is 63% more than the typical.
SHIB Price Surges Amid Increased Whale Interest
According to U.Today, the Shiba Inu token's price behavior provides context for the recent surge of whale on-chain activity. The famous cryptocurrency with meme roots has seen its price surge to $0.0000145, its highest point in a month, an increase of more than 5.62% in the last day.
Most notably, following the March rally, the price of the second-biggest meme coin has surpassed the dynamic resistance level. After six months of resistance at this level, the meme coin's price finally broke through after a year-to-date increase of 8.15 percent.
SHIB Eyes Key Resistance at $0.000016
Since the $0.000016 level may represent the next significant resistance, all eyes should be on SHIB's behavior around this area going forward. If that level is broken, the next big aim will be somewhere around $0.0000183 per SHIB, which has previously been an untouchable barrier for the famous joke coin.
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