- Shiba Inu’s 70% transaction surge signals rising whale market activity.
- SHIB nears key breakout point amid renewed network and trading momentum.
- Increased whale engagement hints at possible bullish reversal for Shiba Inu.
Shiba Inu recorded a remarkable 70% increase in transactions, reflecting a significant revival in both on-chain and technical indicators. According to market data, this surge suggests a renewed presence of large holders, hinting that whales might be re-entering the market.
The heightened network participation shows that capital movement within the ecosystem is accelerating as traders anticipate a potential breakout.
Currently, SHIB is consolidating inside a symmetrical triangle pattern, a formation that typically precedes a major price move. The token trades around $0.0000128, hovering near its 100- and 200-day moving averages, while the 300-day line remains a key resistance level. This setup indicates that SHIB is approaching a decisive phase that could define its short-term direction.
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Renewed Network Activity Fuels Breakout Expectations
Besides the strong on-chain performance, technical signals point toward improving market sentiment. The Relative Strength Index sits around 54, suggesting neutral momentum but leaving space for an upward shift if buying activity strengthens.
A gradual rise in trading volume also reflects renewed accumulation following a quiet trading period, as investors begin positioning for a possible rally.
Source: Tradingview
If SHIB breaks above the $0.0000135 resistance, the next price objective could align with previous liquidity levels near $0.000015 to $0.000016. However, if momentum weakens, a retracement toward $0.000012 or even $0.0000115 may occur.
This makes the upcoming sessions critical, as traders watch whether bullish pressure can overpower resistance barriers that have held firm throughout the year.
Moreover, analysts note that the latest spike in transactions often coincides with periods of high volatility. Increased engagement from whales typically signals shifts in market sentiment, paving the way for either short-term rallies or extended recoveries.
The consistent rise in network activity, coupled with improved technical alignment, shows that SHIB could be on the verge of breaking its long-standing resistance zone.
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