SHIB Trading Volume Declines in 24 Hours: What's Really Happening?

In the past 24 hours, the Shiba Inu (SHIB) cryptocurrency has experienced a significant decrease in its trading volume, an indicator of whale activity, raising questions about the possible causes of this slowdown. According to recent data from IntoTheBlock, the large transaction volume of Shiba Inu, defined as transactions over 100,000 USD, has decreased by 76.21% in the past 24 hours, reaching only 1.9 million SHIB, equivalent to about 54.1 million USD.

Within the same 24-hour period, the price of Shiba Inu has decreased by 2.05% and is currently trading at 0.00002744 USD. In addition, its trading volume has decreased by 9.05%, reaching 854 million USD according to CoinMarketCap data. The decrease in trading volume and trading activity may reflect a cautious sentiment in the market in line with profit-taking. The cryptocurrency market has recovered in Wednesday's trading session, and SHIB is no exception. Shiba Inu has dropped for two consecutive days at the beginning of the week, hitting a low of 0.0000242 USD on Tuesday before rebounding. The price drop and volume of SHIB may suggest that the token is entering an accumulation phase after a recent price surge, reaching a high of 0.0000334 USD on December 8. A decrease in large transactions amid the adjustment context may occur as traders and investors hold onto significant actions. Recent price fluctuations may have caused short-term traders to lock in profits, leading to a temporary lull in trading volume. SHIB Price Movement The price recovery of Shiba Inu halted at 0.000030 USD on December 12, signaling that bears are selling as the price rises. RSI has returned to the middle, indicating a balance between supply and demand. Shiba Inu may still be within the range between the 50-day SMA at $0.0000244 and resistance at $0.00003344. Buyers will have an advantage if they push the price above 0.00003344 USD. Shiba Inu could rise to 0.000039 USD and then to 0.000046 USD. The advantage will shift to the bears if the SHIB price drops below the 50-day SMA.

It is expected that confidence could improve if the US Federal Reserve lowers interest rates at the meeting on December 18. On the other hand, if prices maintain the downward trend, support is expected near the 50-day SMA at 0.0000244 USD. DYOR! #Write2Win #Write&Earn $SHIB {spot}(SHIBUSDT)