Shiba Inu Volatility Drops, Whale Moves 7T Tokens, Hits Low Against Dogecoin

Shiba Inu's (SHIB) volatility has decreased significantly, with its 90-day realized volatility at an annualized 64%, the lowest since December 2023, as per TradingView. The cryptocurrency is in a narrowing price range, impacting future movements.

SHIB's price recently gained over 2%, peaking at $0.000013584, driven by high trading volumes of 2.08 trillion tokens.
Resistance was noted at $0.000013584, while support formed near $0.000012882, establishing a 5% trading range.
Whale activity increased, with over 7 trillion tokens moved on-chain, including significant transfers from Kraken.

Technical Insights

Price fluctuated between $0.000012882 and $0.000013584, with a $0.000007020 trading range.
Volume surged during peak hours, notably surpassing the daily average.
Consolidation occurred between $0.000013323 and $0.000013373, indicating potential accumulation.
High activity observed during resistance tests followed by reduced volume towards the end.

SHIB vs. DOGE

The SHIB-DOGE pair on Binance has dropped to 0.0000472, marking its lowest point since November 2021. This decline continues the downtrend from March 2024 highs.