Shib Coin On-Chain Activity and Technical Outlook: New Insights into Whales and Trading Volume

Overview of today’s price and Trading Volume

Figure:https://www.gate.com/trade/SHIB_USDT

• Price: $0.00001351 (Gate)
• 24h Trading Volume: Approximately 78.59 billion SHIB ($10.9M USDT), an increase of 18% compared to the previous period.
• Trading range: highest $0.00001369, lowest $0.00001305

Whale Positions and Large Transaction Changes

• In the past 24 hours, the Whale addresses’ holdings rebounded from 727.8 trillion SHIB to 749.6 trillion, an increase of about 3%.
• The number of large transactions (>10B SHIB) has slightly increased, indicating that some whales are accumulating at low levels.
• At the same time, the large sell-off volume has not shown a large-scale outbreak, which helps stabilize in the short term.

Technical Formation: Rebound Signal and Downward Channel

• The daily chart is still operating within a descending channel, but today it formed a bullish candlestick with a long lower shadow, suggesting that bulls are attempting to defend the market.
• The KDJ indicator is about to golden cross, indicating a potential technical rebound of 2%–4%.
• Be cautious if the lower channel support at $0.00001330 is not maintained, as it will restart a new round of downward exploration.

Key Ranges: Support and Resistance

• Support: $0.00001330 — lower channel boundary and previous low position
• Resistance: $0.00001370 — Short-term consolidation high and 50-day moving average

Investor Operation Recommendations

1. Cautious observation, waiting for rebound confirmation: If the closing remains above $0.00001350, consider a small position entry.
2. Reasonable Stop Loss: Stop loss and exit if it falls below $0.00001330 to prevent downward break risk.
3. On-chain tracking tools: Use Santiment and Glassnode to monitor whale addresses and large transactions in real time.
4. Monitor market sentiment: Adjust positions based on the Fear & Greed Index and social media dynamics.