Samecoin Shiba Inu
obtained a resumption of 3% compared to night hollows less than 0.00001200, outperforming bitcoin despite the reports of a massive whale transaction.
On Thursday, SHIB experienced a significant correction of 7.7%, falling to 0.0000119 before finding strong support in 0.0000120. Prices have since rebounded at $ 0.00001241, according to Coindesk data.
A massive whale transaction of 2.87 billions of sinks, worth $ 36 million for Coinbase Institutional, initially triggered market concerns, according to research on Coindesk AI. The transaction, however, was later identified as being associated with market guard rather than a whale that seeks to sell parts.
However, despite the recovery, SHIB is still negotiating 10% for the week while investors are sailing in larger market pressures. In addition, the cryptocurrency remains stuck in a channel at the end, identified by trend lines connecting the summits on May 12 and 23 and the bottom of May 17.
The technical insights for the last 24 hours
- SHIB went from 0.0000129 to a lower 0.0000119, representing a drop of 7.7% with an exceptionally high volume (2.9b) during the sale of 7:00 p.m.
- The price has found solid support at 0.0000120, with an accumulation highlighted by a volume greater than the average, establishing a clear demand zone.
- An upward support trend was formed during the recovery phase, the price stabilizing approximately 0.0000122, approximately 4.9% above the low period.
- Shib has demonstrated a significant recovery scheme during the last hour, climbing with notable volume tips.
- A substantial accumulation occurred at 07:55 with an exceptionally high volume (32.3b).
- A clear resistance zone appeared at 0.0000123, which was successfully raped during the last minutes of the period.
