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Shiba Inu (SHIB) – Volatility On the Verge of Exploding
The cryptocurrency market has been experiencing unprecedented volatility over the past week. A recent surge in transactions has sparked concerns among investors about an imminent price explosion for Shiba Inu (SHIB). The 24-hour period saw a staggering 1,660,000,000,000 SHIB in transactions.
It is crucial to consider the data provided by transaction volume and its correlation with the cryptocurrency’s market capitalization. Historically, this spike in activity has been known to precede sharp price movements.
In recent weeks, the seven-day low was seen at around 700 billion SHIB while the seven-day high reached approximately 3.54 trillion SHIB. This dichotomy highlights the erratic accumulation and distribution patterns among SHIB holders, particularly whales.
It is essential for traders and investors to take note of this sudden increase in activity as it may signal a change in market sentiment.
Source: u.today
