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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U. Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
In just one day, a huge number of SHIB – 1.44 trillion – was moved around the network. This could be a sign that SHIB is getting ready for a volatility surge and could finally show bullish performance on the market.
We have seen a lot of SHIB going to different entities like crypto exchanges and wallets. For example, a lot went to Robinhood and Coinbase. When we see this much SHIB moving, it could mean more people are getting ready to buy or sell a lot of it, which is a direct source of volatility. This can make the price go up or down quickly.
Now, let’s talk about the price of SHIB. It looks like SHIB and the whole crypto market are trying to turn things around after a correction. The price of SHIB right now is just above support, at $0.000027. This level is really important because it is the only level that can keep SHIB closer to $0.00003. If the price stays above this level, it might start going toward the yearly high.
The next big test, or “resistance,” for SHIB’s price is at $0.00002987. If SHIB’s price can go past this, the next stop could be up at $0.00003200. But, if it cannot stay above $0.00002707, we might see a test of the $0.00002 price level, which is a critical price drop SHIB might not recover from.
Looking ahead, if SHIB can keep up the good work and the whole crypto market keeps getting bullish, we could see the price of SHIB grow like many have been hoping for. It is like SHIB might be stretching and getting ready to run again.