Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Shiba Inu Nears Key Price Level with Potential for Volatility

Shiba Inu Nears Key Price Level with Potential for Volatility

CryptotaleCryptotale2024/11/05 00:49
By:Chris Murithi
Shiba Inu Nears Key Price Level with Potential for Volatility image 0
  • SHIB nears $0.0000174886, potentially triggering $115.49M in liquidations.
  • The potential liquidation could trigger further liquidations exceeding $1 billion in total.
  • Whale activity rises as 2.34 trillion SHIB moves in 24 hours, signaling interest.

Shiba Inu (SHIB) is nearing a critical price level that could trigger a massive liquidation event. If SHIB’s price reaches $0.0000174886, around $115.49 million worth of positions may be liquidated. This event is expected to push SHIB’s price higher, potentially activating additional liquidations valued over $1 billion.

SHIB’s price has shown limited movement recently, trading near $0.000017 at press time. The token’s stability comes despite broader market fluctuations, with low volatility characterizing its recent performance. This steady price action indicates a lack of strong bullish momentum. However, SHIB holders are watching closely as the price nears the key liquidation level, which could impact short-term movements.

Meanwhile, SHIB’s on-chain data shows increased activity from whales, or large-scale holders. In the past 24 hours, whales moved 2.34 trillion SHIB in major transactions. This activity suggests that large holders are actively engaging with the token despite the recent price stability. The significant volume of these transactions indicates that whales might be positioning for a potential price recovery.

The recent increase in whale activity highlights growing interest in Shiba Inu. While SHIB’s price has not seen drastic changes, the consistent whale engagement suggests a potential buildup in large-scale holdings. This trend could reflect confidence in SHIB’s long-term value, even as the token navigates a challenging market environment.

Whale transactions have been a notable feature of SHIB’s recent performance. At the end of October, around six trillion SHIB exchanged hands in major transactions, setting a high for whale activity. Although current figures are lower, the ongoing movement of large volumes shows continued interest from significant holders. This accumulation may signal that whales see SHIB’s current price as an attractive entry point.

Shiba Inu has failed to find a way to push the price up and is circulating at a price of $0.000017. However, the idea of the liquidation event yet to come could destabilize the new situation in the short run. Investors will be waiting for a change in Shiba Inu’s price when it hits the critical 0.0000174886. More liquidations could be on the horizon, which could push the token higher; this period is essential for SHIB.

The post Shiba Inu Nears Key Price Level with Potential for Volatility appeared first on CryptoTale.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Trump and Wall Street: How long will the love affair last?

Share link:In this post: Wall Street loved Trump’s win at first—stocks jumped, Bitcoin soared, and borrowing costs hit rock bottom, but some sectors started cracking fast. Tax cuts and deregulation made financial and energy stocks shoot up, but tariffs and plans to deport workers freaked out economists and markets. Tariffs mean higher prices for Americans, and even Walmart’s warning it’ll have to raise prices if Trump pushes through with his trade war.

Cryptopolitan2024/11/24 03:44

How AI could transform Germany’s economic future

Share link:In this post: Germany must innovate to stay competitive with rapid AI advancements. Germany prioritizes safety, slowing progress compared to risk-tolerant nations. Bold investments and ethical AI are key to Germany’s leadership.

Cryptopolitan2024/11/24 03:44

How Black Ops 6 plans to stop ranked play cheating

Share link:In this post: Treyarch has addressed the cheating issues in Call of Duty: Ranked Play mode in Black Ops 6. The mode was released last week and already getting complaints of cheating. Treyarch may be increasing its workforce to deal with increasing complaints.

Cryptopolitan2024/11/24 03:44

The clash of Bitcoin and benchmark stock indexes

Share link:In this post: The S&P 500 is up 25% this year, with financial and cyclical stocks leading, boosted by optimism around a Trump administration and steady economic growth. Bitcoin has surged 40% this month, nearing $100,000, driven by aggressive trading, retail investor enthusiasm, and headlines hinting at government support. MicroStrategy’s stock hit a $100 billion market cap, tripling its Bitcoin holdings’ value, but its wild 32% drop from intraday highs shows cracks in the frenzy.

Cryptopolitan2024/11/24 03:44