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Title: Shiba Inu’s On-Chain Activity Explodes to 1,660,000,000,000 SHIB in 24 Hours – Volatility on the Verge of Exploding
The recent surge in Shiba Inu’s (SHIB) on-chain activity has left investors stunned. The sudden and drastic increase in transaction volume, reaching an astonishing 1,660,000,000,000 SHIB in just 24 hours, is a stark contrast to the previous stagnation experienced by the asset.
This dramatic spike in network activity is reminiscent of prior instances where similar patterns have led to sharp price movements. As such, it is crucial for traders and holders to keep a close eye on the market as this volatility could be on the verge of exploding.
The RSI has shown an increase to 49, indicating that momentum is rising without reaching an overheated level. This confluence of tightening price structure and surging transaction volume sets the stage for potentially explosive action in the near future.
In a recent update, SHIB’s Shibarium is on the cusp of a crucial milestone in Q3, which could have significant implications for the asset’s price movement.
This dramatic increase in activity may not only be indicative of price discovery but also herald the beginning of a new market trend. The community should be aware that this increased activity is not just a fleeting event and might bring about substantial changes in the SHIB market.
It would appear, however, that SHIB is attempting to recover its 26 EMA after falling below it for weeks, which makes it worth noting. Since mid-June, the price has been consolidating within a narrow range of $0.0000110 and $0.0000120.
Historically, extended periods of low volatility followed by high transaction volume have preceded breakout stages.
Source: u.today
