Bitcoin

Shiba Inu

Lately, cryptocurrencies have been very unstable, with Bitcoin (BTC) going up and down, which has also affected other coins. Shiba Inu (SHIB) is no different and has been fluctuating too.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/74c6b708f4c4458d8502ea3609e9b488.png" />But in the last 24 hours, big investors, known as whales, have been very active with SHIB. This activity has led some experts to think that the trend might change soon.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/081fd3434bc84fea9866aa1925b7efb7.png" /><h3 id="shiba-inu-s-growing-whale-activity-signals-market-confidence">Shiba Inu’s Growing Whale Activity Signals Market Confidence</h3>After a period of low activity, <a href="https://cryptosheadlines.com/shiba-inus-big-jump-whales-make-interesting-moves/" rel="noopener noreferrer nofollow">Shiba Inu’s interest and strength in whale</a> activities are making a comeback. In the last 24 hours, SHIB has seen a total of 3.8 trillion tokens transferred. This increase in transfers shows growing confidence among <a href="https://cryptosheadlines.com/major-shib-holder-moves-1-7-trillion-amid-price-woes-whats-next/" rel="noopener noreferrer nofollow">major SHIB holders</a>.Market trends over the past week indicate that investors have strong faith in the meme coin. The inflow of large holders could drive prices up through increased buying pressure.Data from IntoTheBlock revealed that large holders’ transactions have surged from a low of 117.17 billion to a high of 860 billion.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/b9a9aee3ded24812b37414a3c3d068b3.jpeg" />Souce: IntoTheBlockAt the time of writing, the inflow of transactions from large holders was at 849.67 billion, further demonstrating <a href="https://cryptosheadlines.com/shiba-inu-futures-launching-on-coinbase-impact-on-shib-investors/" rel="noopener noreferrer nofollow">investors’ confidence in the future of Shiba Inu</a> and the broader crypto market.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/081fd3434bc84fea9866aa1925b7efb7.png" /><h3 id="shiba-inu-faces-bearish-market-sentiment-and-decline">Shiba Inu Faces Bearish Market Sentiment and Decline</h3>As of now, SHIB is trading at $0.00001554, showing a 7.48% decline on weekly charts. This decline follows a consistent drop over the past months, with a 6.59% decrease on monthly charts.In the past 24 hours, SHIB has dropped by 2.25%, indicating that the inflow from large holders has not positively impacted prices. SHIB continues to face strong bearish market sentiment, causing further price declines.<a href="https://cryptosheadlines.com/major-drops-hit-dogecoin-and-top-meme-coins/" rel="noopener noreferrer nofollow">Also Read: Major Drops Hit Dogecoin and Top Meme Coins</a>The Directional Movement Index (DMI) shows a strong downtrend. Currently, the positive index is at 14.25, below the negative index of 23.0734, suggesting a strong downtrend.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/99461d56125446acb0f5d388020b1688.jpeg" />Source: TradingViewAdditionally, the Relative Vigor Index (RVGI) is below zero at -0.2164 and sits below the signal line, indicating that closing prices are, on average, lower than opening prices, reflecting a prevailing bearish market sentiment.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/5697ed534cd24533b1c1f4ab00c6ce10.jpeg" />Source: TradingViewSHIB’s Chaikin Money Flow (CMF) is negative at 0.06, suggesting higher <a href="https://cryptosheadlines.com/nansen-selling-pressure-on-ether-after-shanghai-upgrade-was-insignificant/" rel="noopener noreferrer nofollow">selling pressure</a>. This indicates that the meme coin is closing in the lower half of its range, showing a bearish market sentiment.Finally, the MACD is below zero at -0.00000051, below the histogram, which is also negative. This shows that the short-term EMA is below the long-term EMA, a bearish sign. If the current market sentiment persists, SHIB is likely to decline to the critical support level at $0.00001483.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/38609915c8034fdc9df5d30e295997ee.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.Join Cryptos Headlines <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">Community</a>Follow Cryptos Headlines on <a href="https://news.google.com/publications/CAAqBwgKMLz3-wowvuzoAg" rel="noopener noreferrer nofollow">Google News</a>

Big Shiba Inu Investors Move 3.8 Trillion SHIB in One Day; Her’s Why

Table of Contents

cmcdelete@edb8d1ee4ec9a85c04690131b307c085

Other articles published on Aug 3, 2024

Billionaire Pepe Solana Memecoin Will Explode 17,000% Before Exchange Listing, While SHIB and DOG...

JPMorgan to Accept XRP for Credit Card and Mortgage Payments

Chainlink’s Price Path: Short-Term Dip with Signals of a Trend Change – Should You Buy LINK?

Coinbase Faces Campaign Finance Violation Allegations Over $25m Super PAC Donation

Could Bitcoin Outshine Gold? Trading Guru Weighs In On The Historic Financial Duel

Middle East Influences Crypto Prices

Join our free newsletter for daily crypto updates!