Shiba Inu adds 10% to volume as whales actively trade SHIB
After hitting a high of $0.000012 on April 21, Shiba Inu is currently trading at $0.0000101. Despite the reduction in some gains, shiba inus has increased by 10% in the last 24 hours and its price has increased by 22.23% in the last week.
Shiba Inu dropped an additional zero as its price recovered to support levels found in May. Shiba Inu consolidated above $0.00001 from the middle of May until the beginning of June, confirming it as support. Bulls lost this support as a result of the sharp market declines that occurred in the middle of June. Shiba Inu, therefore, hit low levels on June 18, last seen in August 2021, dropping as low as $0.0000071.
The daily RSI is currently tilting slightly higher indicating impending movement, but overall the trend is still one of consolidation as the RSI is still hovering around the neutral 50 point level. The Shiba Inu market structure now resembles that of July to August 2021, when it was consolidating before a significant price rise in October.
To resuscitate it for an uptrend, buyers might have to push the price above the barrier at $0.0000115 and then $0.000023. However, bulls must hold the $0.000010 level as support.
According WhalesStatsSHIB has returned to the top 10 assets by trading volume among the top 100 ETH whales, which now hold $524,927,965 worth of SHIB.
Top ETH “BlueWhale0073” has also bought 163,286,048,050 SHIB, valued at $1,575,710.
Shiba Inu Profitability Soars
According to data from IntoTheBlock, the profitability of the top meme cryptocurrency, Shiba Inu (SHIB), rose to 22% after dropping to 14% earlier. Shiba Inu (SHIB) was one of the biggest gainers in the crypto markets on April 21 as SHIB holders considered reassuring remarks from lead Shiba Inu developer, Shytoshi Kusama.
U.Today reported earlier that 81% of Shiba Inu holders were underwater on their investments with barely 14% in profit, as Shiba Inu’s price dipped to around $0.000008 on June 14. Now, the number of Shiba Inu addresses in profit has jumped to 22%.
