Welcome to Extreme Investor Network, where we dive deep into the world of the Stock Market, trading, and all things Wall Street. Today, we are taking a closer look at Shiba Inu and its recent price movements and whale transactions.
According to data from IntoTheBlock, Shiba Inu saw a surge in whale transactions on July 16, with 187 transactions recorded, marking its highest number in the last 12 days. This significant increase from just 41 transactions on July 10 indicates a 350% rise in trading activity among large investors over the past week. As a result, SHIB has emerged as one of the top performing mega cap crypto assets this week, outpacing the likes of Bitcoin and Ethereum with its 60% price gains.
Looking at the Shiba Inu price chart, we can see a strong bullish trend over the past 12 days, with a notable rally of 60% bringing the price to $0.00001940. Technical indicators such as the Bollinger Bands and the Relative Strength Index (RSI) support this upward momentum. The widening Bollinger Bands signify increased volatility and a potential continuation of the current trend, with the price hovering near the upper band, indicating strong buying pressure. The immediate resistance lies at around $0.00001945, with a breakthrough potentially leading to a move towards the psychological resistance at $0.000020 and beyond, targeting $0.000025 as the next significant level.
As we track the market movements of Shiba Inu and analyze whale transactions, it is clear that the cryptocurrency is making waves in the industry. Stay tuned to Extreme Investor Network for more insights and analysis on the latest trends in the Stock Market and beyond.