Significant Shiba Inu (SHIB) whale movements and positive technical indicators are pointing towards a potential continuation of the meme coin’s upward momentum, according to market observations.
Recent blockchain data revealed exceptionally large transfers exceeding 615 trillion SHIB tokens. This substantial whale activity is generally interpreted as a precursor to heightened price volatility in the cryptocurrency.
Technically, SHIB is currently testing a critical level near its 200-day moving average. A sustained break above this widely watched indicator could solidify a longer-term upward trend shift and signal further potential gains.
The Relative Strength Index (RSI), a measure of momentum, is approaching overbought territory. This threshold suggests strong ongoing buying pressure is currently driving the asset’s price.
For SHIB to capitalize on this building momentum, maintaining a position above the crucial $0.0000145 support level is considered essential. Breaching this support could negate the current bullish technical setup.
The combination of heightened transfers by large holders and supportive technical patterns indicates SHIB may be entering a new phase of price appreciation.