With the rising wind that started in the crypto market, the trading volume and whale movements of the popular meme coin Shiba Inu (SHIB) increased rapidly. While the market value of SHIB increased, the huge transactions made by whales contributed to the price increasing even more. Whether SHIB, which has a particularly strong ecosystem, will rise even more in the future is a matter of curiosity for investors. Here are the latest developments and future expectations in SHIB.
The Big Game of SHIB Whales
According to the data, the trading volume of SHIB whales increased by 341 percent in the last 24 hours. They also attracted attention with large transactions of $ 100,000 and above. Whales handled $ 68.02 million worth of SHIB during this period. With a total of 170 transactions, whale activity in the meme coin market reached the highest levels in recent days. Such intensive trading by whales attracted considerable attention. This is a strong sign, especially for SHIB, a volatile meme coin.
These massive whale movements show that SHIB is increasingly accepted in the meme coin world. Whales have moved a total of 3.73 trillion SHIB on-chain in the last 24 hours . Such a massive movement puts SHIB in a prominent position in the meme coin ecosystem. It also puts upward pressure on the price.
Innovations in the SHIB Ecosystem
Meme coin stands out not only with its price increase but also with its innovations. With its own Layer-2 solution, Shibarium, the SHIB ecosystem is constantly adding new features. With the NFT bridge offered by Shibarium , SHIB users can now use their NFTs more conveniently and securely. These developments bring SHIB to a level where it can compete with Ethereum’s Layer-2 solutions by reaching more users.
Shibarium has also introduced a portal that allows for the burning of SHIB tokens, aiming to reduce supply and preserve value in the long term.
Technical Outlook and Critical Levels for Meme Coin
SHIB is about to break a long downtrend. If the price can close above $0.000021, it is estimated that it could rise up to $0.000029, an increase of up to 50%. This level is important for investors as a strong resistance point. It could also be a sign of a possible rise.
Also, the fact that SHIB price is above the 200-day moving average (EMA) supports the bullish outlook. The 200 EMA is an important technical indicator that shows the trend direction of an asset. If SHIB can stay above this level, investors’ positive expectations will be strengthened and the price will rise further.
Increasing Interest and Trading Volume in the Meme Coin Project
SHIB’s market volume has increased by 125% in the last 24 hours, indicating increased investor interest. This high volume indicates that the market is demanding SHIB. Furthermore, SHIB’s rise to the 12th most valuable cryptocurrency position, overtaking AVAX , must be a reflection of strong market demand.
The increase in SHIB shares on social media is another factor that will positively affect the price. In addition, SHIB’s presence on social media will attract new investors and contribute to the price moving even higher. However, as we have reported at Kriptokoin.com , meme coin projects are assets with high volatility. Therefore, it is important for investors to do their own research and not forget the risks.
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