{"id":824772,"date":"2025-02-06T07:11:39","date_gmt":"2025-02-06T13:11:39","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/06\/shiba-inu-rally-imminent-1-23-trillion-shib-moves-into-wallet\/"},"modified":"2025-02-06T07:11:39","modified_gmt":"2025-02-06T13:11:39","slug":"shiba-inu-rally-imminent-1-23-trillion-shib-moves-into-wallet","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/06\/shiba-inu-rally-imminent-1-23-trillion-shib-moves-into-wallet\/","title":{"rendered":"Shiba Inu Rally Imminent? 1.23 Trillion SHIB Moves into Wallet"},"content":{"rendered":"
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\"Shiba<\/figure>\n<\/div>\n
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Amid ongoing market uncertainty, Shiba Inu (SHIB), the popular and second-largest crypto meme coin, has gained attention from crypto enthusiasts and made a big move. Today, February 6, 2024, blockchain-based transaction tracker Whale Alert posted on X (formerly Twitter) that a crypto whale transferred 1.239 trillion SHIB tokens, worth $20.136 million, from the Kraken cryptocurrency exchange.<\/p>\n

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However, the wallet address for this transaction remains unknown, and such significant transactions following a massive price decline suggest potential accumulation. The current market sentiment appears bearish, as SHIB, along with major cryptocurrencies, has experienced significant price drops in recent days.<\/p>\n

Shiba Inu (SHIB) Technical Analysis and Upcoming Level\u00a0<\/strong><\/h2>\n

Amid this market crash, SHIB <\/a>has witnessed a price drop of over 35% and has reached the crucial support level of $0.000015, which has a history of price reversal.<\/p>\n

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Source: Trading View<\/figcaption><\/figure>\n

Based on recent price action and historical momentum, if SHIB holds this support level, there is a strong possibility it could soar by 30% to reach the $0.000020 level in the coming days. However, the current sentiment seems unfavorable for the predicted level due to the ongoing economic tensions between the US, China, Canada, and Mexico.<\/p>\n

Nevertheless, this level appears to be an ideal buying opportunity. SHIB is currently trading below the 200 Exponential Moving Average (EMA) on the daily time frame, indicating that it is in a downtrend.<\/p>\n

Major Liquidation Levels\u00a0<\/strong><\/h2>\n

With this price action, traders are over-leveraged at the $0.0000155 level on the lower side and the $0.0000165 level on the upper side, according to Coinglass <\/a>data.<\/p>\n

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Source: Coinglass<\/figcaption><\/figure>\n

If the market sentiment remains unchanged and the price falls below the $0.0000155 level, nearly $350k worth of long positions will be liquidated. Conversely, if the sentiment shifts and the price rises to the $0.0000165 level, approximately $625k worth of short positions will be liquidated.<\/p>\n

When combining these on-chain metrics with the technical analysis it appears that traders holding short positions are dominating the asset.<\/p>\n

Current Price Momentum\u00a0<\/strong><\/h3>\n

As of now, the meme coin is trading near $0.0000158 and has experienced a price surge of over 2.80% in the past 24 hours. However, during the same period, its trading volume dropped by 25%, indicating lower participation from traders and investors compared to previous days.<\/p>\n<\/div>\n

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\n Chandan Gupta<\/p>\n","protected":false},"excerpt":{"rendered":"

Amid ongoing market uncertainty, Shiba Inu (SHIB), the popular and second-largest crypto meme coin, has gained attention from crypto enthusiasts and made a big move. Today, February 6, 2024, blockchain-based transaction tracker Whale Alert posted on X (formerly Twitter) that a crypto whale transferred 1.239 trillion SHIB tokens, worth $20.136 million, from the Kraken cryptocurrency<\/p>\n","protected":false},"author":1,"featured_media":824773,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3817,92260],"tags":[],"class_list":{"0":"post-824772","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-rally","8":"category-shiba"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/824772","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=824772"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/824772\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/824773"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=824772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=824772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=824772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}