- SHIB transaction spike
- Can Shiba Inu hold momentum?
With a 70% increase in transactions, Shiba Inu showed a proper recovery in both on-chain and technical movement, indicating renewed activity among large holders, possibly whales returning to the market. A sharp increase in overall network engagement is reflected in the metric, which counts the total number of transactions attempted or completed (regardless of completion), suggesting that substantial capital may be reallocated in anticipation of a potential breakout.
SHIB transaction spike
Periods of volatility are typically preceded by or coincide with spikes in SHIB’s transaction count, as new market participants join the momentum and large holders shift their positions. The timing is in line with SHIB’s continuous efforts to break through its upper resistance levels, which are located close to $0.0000135 and have served as a technical and psychological barrier all year long.
Technically speaking, SHIB’s price structure displays the asset consolidating inside a sizable symmetrical triangle, a pattern that is usually connected to continuation or reversal based on the breakout direction. Currently trading at about $0.0000128, the token is testing the 100- and 200-day moving averages while staying just below the 300-day mark, which still serves as overhead resistance.
Can Shiba Inu hold momentum?
The RSI is in a neutral zone, with room to rise if buying pressure picks up steam, as it is balanced around 54. A moderate recovery in volume dynamics has also been observed, indicating a slow accumulation following weeks of inactive trading. Prior liquidity concentrations at $0.000015-$0.000016 could be the next immediate target if SHIB is able to break through the $0.0000135 level at 100 EMA.
However, if the current momentum is not maintained, there may be a pullback toward $0.000012 or $0.0000115. The spike in network activity right before a critical technical juncture suggests that participation is rising, most likely due to larger holders. If bulls can finally push SHIB past its multi-month resistance and rekindle retail enthusiasm, this renewed whale movement could result in a full-scale rally or a brief spike.
Source: https://u.today/shiba-inu-shib-70-in-48-hour-spike-raises-questions
