Shiba Inu Advances with Strong Whale Action and Bullish Expectations
The Shiba Inu (SHIB) cryptocurrency saw a significant increase in its value on Tuesday, driven by an intensification in the movements of the so-called “whales” and a positive sentiment that permeates the crypto market. At the time of publication, the price of SHIB was quoted at US$ 0,00002327 with an increase of 3% in the last 24 hours.
Ali Martinez, a well-known industry analyst, identified a strong buy signal on the SHIB daily chart using the TD Sequential indicator. According to his analysis, there is a possibility of SHIB prices rising to $0,000026 and even reaching $0,000029.
The TD Sequential indicator presented a buy signal on the #ShibaInu $ SHIB daily chart, anticipating a rebound to $0.000026 or even $0.000029! pic.twitter.com/N2QZSs0nCl
— Ali (@ali_charts) December 24, 2024
In terms of market activity, data from IntoTheBlock indicates that the volume of large transactions has increased significantly, with a jump of 265,3% in a single day. At the same time, the number of daily active addresses saw a slight increase of 0,12%, and transactions over $100.000 grew from 118 to 180, boosting SHIB prices. Furthermore, data from Shibarium indicates that the number of daily transactions has remained stable at around 4,7 million since mid-December.
Shiba Inu’s recent momentum appears to reflect growing interest from large-scale investors, following a broader recovery in sentiment among crypto market participants. The combination of robust technical buy signals and increased whale activity could signal a continuation of the uptrend for SHIB.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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