10 Trillion SHIB Have Now Been Traded In 24 Hours

10 trillion SHIB have now been traded in 24 hours, which has raised questions about market dynamics and investor interest.

Recent data indicates that over 10 trillion Shiba Inu (SHIB) tokens were transacted within a single day, largely due to the activities of whale investors.

While this figure seems impressive at first glance, it pales in comparison to historical transaction volumes seen during SHIB’s peak growth phases.

This discrepancy raises important questions about the current momentum of the asset and its potential for future recovery or growth.

Comparing Current Volumes to Historical Peaks

In previous bullish cycles, Shiba Inu consistently experienced transaction volumes exceeding 18 trillion tokens, particularly during periods of rapid price increases.

Such spikes in activity often signaled strong interest from major holders and a robust market trend.

Conversely, during bearish periods, transaction volumes typically dropped below 10 trillion tokens, reflecting waning enthusiasm and lower market engagement.

Currently, the transaction volume of 10 trillion tokens positions SHIB above the bearish threshold but still significantly below the levels that usually indicate a strong bullish trend.

This relatively subdued activity suggests that the market is neither witnessing substantial accumulation nor facing aggressive selling pressure, leaving SHIB in a precarious balance.

Price and Support Analysis

Chart analysis reveals that SHIB is hovering near a crucial support level.

Its recent bounce from the 50-day Exponential Moving Average (EMA) signals an attempt at recovery.

However, the current trading volumes do not support the level of market participation required to sustain a prolonged upward trend.

This mismatch between price movements and trading activity indicates limited momentum, putting the asset in a state of consolidation.

Market Sentiment and Whale Activity

Analytics from IntoTheBlock suggest that high transaction volumes often foreshadow significant market movements, typically reflecting increased activity from major stakeholders.

However, the current volume lacks the clear patterns of accumulation or distribution usually seen before major price shifts.

This moderate activity implies that SHIB may be at a critical juncture, where a sharp increase in transaction volumes—especially from whales—would be necessary for a bullish breakout.

Until such a catalyst materializes, the token is likely to remain stagnant in its consolidation phase.

Conclusion

Although the trading of 10 trillion SHIB tokens in one day is noteworthy, it does not indicate a decisive market shift.

The transaction volumes are well below historical highs, suggesting a lack of strong bullish sentiment.

For SHIB to reclaim its previous upward trajectory, renewed interest and significantly higher trading volumes will be crucial.

Until then, market participants may need to exercise patience as the asset waits for a more definitive catalyst to spur its next major move.

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Also Read: Shiba Inu Sees A Surge In Popularity Now Welcoming 7,548 New Wallets

About The Author

Frank Nez

Frank Nez is an American journalist whose research has been cited by SEC and Congressional reports. Frank Nez has been featured by prominent outlets such as TheStreet and NewsBreak. ‘Daily Crypto News’ is now an official CoinMarketCap news source.

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