We have observed ups and downs for several whale-tier transactions during a Shiba Inu rally. That’s for a very excellent reason.
There are two main theories: first, it’s possible that profit-taking occurred during SHIB’s price increase. When they see a price surge, investors can choose to take advantage of their profits, which would result in a high volume of transactions.
Second, in an attempt to profit from the erratic price swings, traders frequently increase transactional activity during a market correction by taking profits, using margin, and leveraging.
At $0.00002758, SHIB is presently trading at a critical price. This is a critical time as it is circling a critical support level around $0.00001954, which SHIB has historically been able to maintain. Should this level be sustained, it may serve as a platform for further expansion.
A resistance level may be seen at $0.00003500 as we look up. In order to transition into a stable development phase, SHIB must overcome this obstacle. If it succeeds, it may indicate the start of a prolonged rising trend that might lead to even greater heights.
If the market continues to be favourable and the support remains strong, we might see SHIB go up towards that resistance level. The community should keep a careful eye on these levels because of the market’s volatility, which means that these moves might alter quickly.
The vast volume of transactions may indicate a range of calculated actions by significant investors, but SHIB’s ability to maintain critical support levels and overcome obstacles to trading will be crucial to the coin’s survival. Furthermore, remember that the cryptocurrency market correction has just ended, therefore it is too soon to make any assumptions.
