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Shiba Inu (Shib) whales were hunted this week after prices dropped to a 16 -month minimum of $ 0.00001005.
According to AI Coindeska research, whales bought $ 10.4 trillion worth over $ 110 million worth over $ 110 million on Monday, which meant the largest daily accumulation in five months.
The whale action probably contributed to the 17% price of cryptocurrency from the 16 -month -old minimum on Sunday. Note that the wider crypt market has stabilized after the initial knee market reaction to the Middle East tension. BTC, who dropped below $ 100,000 at the weekend, changed his hands near $ 106,000.
Market data suggests that Shib maintains generally constructive posture, with a higher minimum forming a fine uptrend channel. Token found significant volume support at the level of $ 0.0000001158 within $ 24 from June 24, 09:00 to 25 June 08:00, while the volume of trading rises sharply to 439 billion, significantly above the daily average.
This accumulation at support levels indicates the potential for continued upwards if the resistance of 0.0000001175 USD can definitely be cleaned. According to Coindesk data, Shib traded around $ 0.00000000001162 on the main stock exchanges.
Key knowledge of AI
- Higher minimums formed a fine uptrend channel, indicating the support level and potential for continuing upwards if a resistance of 0.0000001175 is erased.
- Within 60 minutes from June 25, 07:06 to 08:05, Shib climbed from 0.00001169 to $ 0.00001171, which represents a profit of 0.2%.
- Between 07: 25-07: 27 there was a significant increase in the price, with the volume peak reached 12.36 billion of SHIB when the prices reached a range of 0.00001175 USD.
- The price event created an ascending channel with a higher minimum, although sharp corrections at 08:03 tested the support level of $ 0.0000001171, indicating consolidation after the earlier rally.
Hourly chart
The revival of Shibu stopped from Tuesday, with prices trading with what seems to be a descending triangle, characterized by a falling trend line and a horizontal support line.
The price move via the descending trend line would signal the continuation of the regeneration rally and revealed a resistance of 16 June over $ 0.00001230. On the contrary, the decay of the triangle would signal the bear conversion below.
