Coin Edition -
- Whale moves over 3 trillion SHIB in a single transaction, causing a stir.
- Shiba Inu gains almost 7% from seven-day low, positioning itself as a major player.
- SHIB/USD technical outlook suggests a bullish trend, but caution is advised.
In a single cryptocurrency transaction that shook the Shiba Inu world, a whale has transferred a staggering 3,484,812,794,902 SHIB. While rumors are circulating as to the identity of the whale behind this mammoth move, the news has certainly made waves in the crypto community.
3,484,812,794,902 #SHIB (40,284,435 USD) transferred from unknown wallet to unknown wallethttps://t.co/W1gioFya4q— Whale Alert (@whale_alert) April 16, 2023
Following its period of consolidation, Shiba Inu has started to show new signs of life, recording nearly 7% gains from its seven-day low. With a growing community of holders and supporters, the token is positioning itself to become a major player in the crypto world.
Looking at the SHIB/USD technical outlook, it appears that Shiba Inu has managed to break out of its recent consolidation phase. The Relative Strength Index (RSI) is currently at 57, indicating that there’s room for the token to move further upwards.
SHIB/USD 1-day Chart Source: Tradingview
Taking a look at the Ichimoku chart, we can see that Shiba Inu is currently trading above the Kumo cloud, which is a bullish sign. The Tenkan-Sen line is also trading above the Kijun-Sen line, indicating that the token is gaining momentum.
If Shiba Inu manages to maintain its current bullish trend, its next resistance level could be at $0.000012. However, if there’s a sudden turnaround in market sentiment, the token could find support at $0.00000960. As with any investment, it’s important to maintain a cautious approach and monitor market trends before making any investment decisions.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
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