Will Shiba Inu (SHIB) Break 6 Trillion Record?
2024-11-05

It is possible that Shiba Inu is about to surpass a six trillion SHIB transaction volume, which would indicate increased activity and interest from major holders. The number of large transactions and overall transaction volumes fluctuate according to on-chain data, reflecting periods of interest in SHIB trading activity as well as periods of stagnation. The data provider IntoTheBlock shows 114 significant transactions totaling 2.21 trillion SHIB were made on SHIB in the last 24 hours.
This figure is significantly higher than the seven-day low of 628. 55 billion SHIB but it is lower than the most recent seven-day high of 5.99 trillion SHIB. This fluctuation in transaction volume indicates that although whale activity is sporadic on SHIB, long-term accumulation by major holders has not yet reached its full potential. SHIBUSDT Chart by TradingView">
The data shows an intriguing trend of large transactions peaking at particular times, such as Oct. 29 with 269 transactions. Whales may have been trying to position themselves for a possible recovery by accumulating at lower price levels at this peak.
However, the present price action does not point to a significant breakout attempt, with SHIB stabilizing at $0.00001760. Shiba Inu would have to overcome resistance at $0.00001850, a level it has frequently found difficult to reach in order to see a longer-lasting rally. There also seems to be a discrepancy between price movement and transaction volume. SHIB's price has stayed comparatively stable despite spikes in the volume of large transactions. 
This could suggest that although big holders are active, they might not be actively buying or selling — instead they might be holding out for a more clear-cut market signal. Whale activity may trigger a move toward the next resistance level if big transactions get close to or exceed the six trillion SHIB mark. 
However, the ability of SHIB to maintain higher volume over time will be a major factor in its potential recovery. The $0.00001850 resistance is a good place for investors to watch for indications of ongoing whale interest because breaking above it could pave the way for a stronger recovery.