The SHIB community is in a frenzy as a result of the remarkable spike in transaction activity that has occurred in the last 24 hours on Shibarium, the creative blockchain project from the Shiba Inu team. 18,530 transactions were reported by the project during this time, a stunning 54% increase from the day before.
There is an interesting price action scenario involving the Shiba Inu token (SHIB) that corresponds with the spike in Shibarium transaction activity. SHIB has been trading close to the crucial resistance level of $0.000008 per SHIB for the last four days, teasing investors with the possibility of an unfulfilled breakthrough.
Predicting Ethereum’s November Performance: A $2,500 Scenario
Furthermore, this week has seen an amazing 12% price gain for the SHIB token, which is the biggest weekly increase since the end of July.
Shiba Inu (SHIB) Signals Major Move, Shibarium Activity Soars,Shiba Inu (SHIB) Signals Major Move, Shibarium Activity Soars
Bull: Trap or rally? With a positive undertone, cryptocurrency aficionados are cautiously excited about the SHIB price chart. SHIB has to break through and maintain a price range of $0.000008 to $0.0000084 per Shiba Inu token in order to really start a bullish movement.
Everyone’s thinking the same thing: is this a bull trap or is this really going to happen? The solution will come in time. On-chain data, however, as disclosed by IntoTheBlock, indicates a rise in activity among holders of big SHIBs, with a staggering 265% increase in the amount of large SHIB transactions over night.
What Caused the Massive Volume Surge in Shiba Inu (SHIB)?
This spike in whale activity supports the idea that Shiba Inus are becoming more and more popular.
All eyes are on Shiba Inu as it gets closer to a possibly game-changing breakthrough, with the market anxiously awaiting the company’s next move.
Shiba Inu (SHIB) Signals Major Move, Shibarium Activity Soars,Shiba Inu (SHIB) Signals Major Move, Shibarium Activity Soars,Shiba Inu (SHIB) Signals Major Move, Shibarium Activity Soars, Shiba Inu coin Crypto news, Shiba Inu coin News