7,730,000,000,000 Shiba Inu (SHIB) in 24 Hours: Explosion Incoming?

Shiba Inu’s transaction volume just surged to a weekly high of 7.37 trillion SHIB in a 24-hour period. Similar surges in network activity have historically predicted times of high price volatility, and recent on-chain data indicates that we might be about to witness another significant shift. Based on price action, SHIB is currently holding at $0.00001270, which is a critical support level. For a number of weeks, this horizontal zone has served as a floor, and the asset has already bounced off it a few times. Interestingly this level provides dual-layered support by being in line with the 50 EMA. However, the strain is increasing. Volatility is practically a given with the explosion of network activity and the surge in transaction volumes. The 100 EMA is currently located at the $0.00001400 resistance, and we could see a breakout above if this momentum carries over into price action. SHIB has not touched the 200 EMA in months, and it is currently hovering around $0.00001620. A clean breach of that level opens the path to that level. However, there is no assurance that the explosion will go upward. You Might Also Like The technicals and fundamentals point to a bullish eruption, but if the support at $0.00001270 is not maintained, SHIB may plunge toward the lower boundary at $0.00001100, erasing recent accumulation gains and invalidating the bullish setup. Traders should brace themselves for high-velocity swings in either direction, as volatility is raging and 7.37 trillion SHIB were moved in a single day. SHIB may eventually break out of its range of stagnation and attempt to regain annual highs if buying pressure follows this spike in volume. The possibility of a steep drop is also present if the move becomes a distribution trap. Source: https://u.today/7730000000000-shiba-inu-shib-in-24-hours-explosion-incoming