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Title: 15,050,000,000,000 SHIB in 24 Hours, Shiba Inu Reversal Imminent?
According to recent data from CoinMarketCap, a staggering 15.05 trillion SHIB tokens have changed hands in just 24 hours, signaling a potential reversal for the cryptocurrency’s downtrend. Despite this significant surge in trading volume, the price of SHIB has plummeted by an astonishing 6.52% in the same period, dipping to $0.00001055 and dropping a staggering 12% on the week.
This recent drop has pushed SHIB closer to crucial support levels where buyers may attempt to reenter the market, potentially sparking a rebound. Historical price data suggests that such a dip could lead to a reversal similar to what was seen in April when intraday lows of $0.00001028 were reached and then promptly recovered.
Moreover, on-chain metrics and whale tracking platforms have observed increased activity from large holders, fueling speculation that a reversal may be imminent as whales position themselves for a major move.
In conclusion, the recent surge in trading volume and the potential reversal of SHIB’s downtrend is certainly a developing story to keep an eye on.
Source: u.today
