Shiba Inu Sees Surge in Transfer Volume Amid Technical Resistance Challenges and Stable Transaction Activity

• On-chain transfer volume of over 10 trillion tokens

• Stable transaction count at approximately 5,400, suggesting whale activity.

• SHIB faces multiple technical resistances, including the 200 EMA near $0.00001420.

Shiba Inu news highlights a significant increase in transfer volume, driven by whale transactions. Stay updated with the latest insights.

What is Shiba Inu’s Current Market Status?

Shiba Inu (SHIB) is trading around the $0.00001300 level, attempting to stabilize after recent volatility. The SHIB token is currently facing multiple technical resistances that are limiting its upward momentum.

How is SHIB Performing Technically?

SHIB is trapped within a convergent triangle structure, with the 26 EMA acting as the first resistance. The 50 EMA above serves as a rejection zone, while the 100 EMA adds further pressure. The most significant barrier is the 200 EMA, which has consistently obstructed bullish advances since spring.

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