What Caused the Massive Volume Surge in Shiba Inu (SHIB)?

A quick look at the daily chart of reveals an incredible spike in trading activity, particularly in the vicinity of its present price. There has been a noticeable increase in volume, which has many people wondering why there has been such a sudden interest.

What Caused the Massive Volume Surge in Shiba Inu (SHIB)?
Source: AMB Crypto

First, it’s critical to comprehend how trading volume functions in the cryptocurrency marketplaces. A high trade volume often indicates increased interest in a certain asset, which may be brought on by a number of things, including news, market mood, or outside events.

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As shown with SHIB, a fast spike in volume frequently denotes robust buying and selling activity and can be a hint of impending big price moves, either bullish or bearish.

What Caused the Massive Volume Surge in Shiba Inu (SHIB)?,What Caused the Massive Volume Surge in Shiba Inu (SHIB)?

The TradingView sourceWhen examining the chart, the distinct volume bars are easily noticeable. The significant increase in volume indicates that traders and investors are showing a great deal of interest in the token at its current price point. A tug-of-war between bulls and bears, with the asset being widely traded, is typically reflected in such activity.

A possible explanation for this sharp increase in volume is the general upswing in the bitcoin market as a whole. Many tokens, such as well-known meme currencies like, naturally see an increase in trading as the cryptocurrency market gains more traction and draws in more players.

Cardano still needs a boost.

Many traders and cryptocurrency aficionados are paying attention to Cardano’s recent price behaviour. The market faced sudden and strong resistance after showing indications of a possible protracted bull run, raising concerns about what went wrong.

200 EMA resistance: The relationship between Cardano’s price and the 200 Exponential Moving Average (EMA) is one of the most notable findings. The price quickly reversed as it got closer to this significant resistance level.

In the crypto market in particular, the 200 EMA frequently serves as a formidable barrier. ADA’s inability to sustain its momentum above this point sparked concerns and a sense of unease among traders.

Selling volume surge: A notable increase in selling volume coincided with the price reversal. Strong selling pressure was evident at this level, as indicated by the towering red volume bars that crossed the 200 EMA. This may be explained by traders holding onto profits, a confluence of other outside events that impacted selling mood, or fear of resistance near the 200 EMA.

There might have been a number of reasons behind ADA’s abrupt decline following its crossing of the 200 EMA. First off, there is no denying that the cryptocurrency market is naturally volatile, and quick reversals following strong resistance levels are not unusual. Furthermore, events or news surrounding the Cardano project, macroeconomic variables, or general market mood may be significant.

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Ethereum requires a vacation.

The way that ETH has been trading lately indicates that the rise may be fading. The chart that is linked shows a number of signs and patterns that are important to watch out for:

Moving averages: The convergence of the black and blue moving averages often indicates a possible shift in the trend’s direction. The price of Ethereum just moved above both moving averages, indicating a possible turn in the positive direction.

The red candles that have just appeared, however, suggest a retreat that might be caused by profit-taking or increased selling pressure.

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