1.24 Trillion Shiba Inu Tokens Transferred from Kraken Valued at $20.14 Million
Major SHIB Token Movement
- 1.24 trillion Shiba Inu tokens, valued at approximately $20.14 million, were transferred from a Kraken wallet.
- The transfer originated from wallet "0x6d0" to address "0x22a".
- This movement sparked speculation of a whale withdrawal but is linked to Kraken, indicating an internal liquidity reshuffle.
Ongoing Outflows and Market Status
- On the same day, additional outflows of 733 billion SHIB tokens were reported from Kraken.
- SHIB's current trading price is around $0.0000151, down 6% in the past 24 hours.
- Market cap stands at $8.89 billion, ranking 18th among cryptocurrencies.
- SHIB is the second-largest meme coin after Dogecoin.
Price Analysis
- Relative Strength Index (RSI) at 30.68 indicates nearing oversold conditions.
- Bollinger Bands suggest potential volatility ahead.
- Current support testing at $0.00001909 (23.6% Fibonacci level); immediate support at $0.0000145.
- Resistance levels are near $0.00002202 (50% retracement) and $0.00002332 (61.8% retracement).
- Potential drops could target $0.0000140 following continued selling pressure.
- Recent seven-day slump recorded at 20%.
- Formation of a potential falling wedge pattern may indicate a bullish breakout if confirmed.
- Current trading volume is $337 million, down 33%, compared to Dogecoin's $1.8 billion.
Photo: TradingView
Photo: TradingView