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Just 1.9 Trillion SHIB in 24 Hours: What’s Really Happening?
The cryptocurrency market has been experiencing a rollercoaster of emotions over the past few days, and it seems like Shiba Inu (SHIB) is no exception. The article I wrote earlier today highlights that the RSI has returned to the midway, indicating a balance between supply and demand for SHIB.
It appears that this equilibrium has led to a rather unusual 24-hour trading period. According to available data, an astonishing 1.9 trillion SHIB tokens have changed hands in just one day alone!
While it’s difficult to accurately pinpoint the cause of such an extraordinary phenomenon without additional information, we can draw some tentative conclusions.
Firstly, it is crucial to note that a significant price movement like this could be attributed to various market factors. It might have been driven by a shift in investor sentiment or a surge in trading volume.
However, with the 50-day SMA (Simple Moving Average) and the RSI both in a neutral zone, we are not seeing any strong indication of a bearish trend, which might have led to this massive trade activity.
In the absence of other conclusive data, it is difficult to speculate on the reason behind this incredible trading volume.
Source: u.today
