Shiba Inu Bull Setup vs 69% Plunge in Large Transactions
Shiba Inu (SHIB) rebounded 6% in 24 hours, trading around $0.0000138 as altcoins recover. However, large SHIB transfers (≥$100,000) plunged 69% from 6.04T to 1.87T SHIB, signaling possible demand loss.
On-chain activity on Shibarium remains active, with over 4.2M daily transactions, 48% network utilization and low gas fees. RSI near 70 and a positive MACD confirm bullish momentum for Shiba Inu.
SHIB has also broken above its 20-, 50- and 100-day EMAs and needs a daily close above the 200-day EMA ($0.0000145) to target $0.0000175–$0.000025. Derivatives open interest is up 40% since early July, while long-term holders exceed one million addresses.
Analysts expect SHIB to reach $0.000020 by late August and $0.000040 by year-end, aided by the upcoming Alpha Layer release. New meme presales like T6900 have raised over $500,000, highlighting alt volatility. Traders should watch large-transaction volume, RSI, EMA levels and on-chain metrics for SHIB’s next move.
Neutral
While Shiba Inu’s technical indicators—RSI near 70, positive MACD and EMA breakouts—signal continued bullish momentum in the short term, the 69% collapse in large transactions introduces uncertainty around demand stability. In the long run, upcoming updates like the Alpha Layer release, growing derivatives open interest and robust on-chain activity could underpin further gains. However, the sharp drop in big trades and the emergence of alternative meme presales such as T6900 suggest potential volatility. Overall, mixed signals point to a neutral stance, warranting close monitoring of on-chain metrics and large-transaction volume before committing to directional bets.