Shiba Inu bulls snap up trillions of tokens in just 24 hours as SHIB price reaches pivotal level
In the past 24 hours, 2.84 trillion Shiba Inu have been bought, according to IntoTheBlock. The number itself doesn’t tell us much, but when you compare it to the amount of SHIB tokens sold, an intriguing question emerges.
It comes out that 203.22 billion SHIB were purchased as opposed to sold. Also, since Sunday, there have been 407.81 billion SHIB more Shiba Inu token purchases than sales.
Currently, there are equal “bear” and “bull” addresses, with 20 sizable wallets trading more than 1% of the entire SHIB volume on either side. Yet, over the past seven days, there have been 141 more major sellers than buys, as opposed to 130.
Hence, it may be said that there is currently a particularly tenacious conflict between buyers and sellers in the SHIB area. The opinions of either side in this argument also become clear when examining the token’s price movement.
SHIB chart | Source: CoinMarketCap
The price of the Shiba Inu again reached a crucial barrier level at $0.0000119 per token, from which a sell-off ensued after increasing by more than 12% over the previous three weeks. Here is where the medium-term price movement of SHIB will be guided going forward. It’s unclear whether bulls or bears will join the trend.
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