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16,000,000,000,000 SHIB Skyrocketing Just Happened

Tue, 17/06/2025 - 11:42
Shiba Inu gains more traction on market with this massive skyrocketing
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16,000,000,000,000 SHIB Skyrocketing Just Happened
Cover image via www.freepik.com

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Shiba Inu set a new weekly high with a massive transaction volume of 16.42 trillion SHIB in the last 24 hours. An increase in network activity or a surge in institutional confidence could be the initial explanation for such a spike. Zooming in, however, shows a less hopeful picture of the situation: a sell-off, not accumulation, is more likely to be the cause of this abrupt volume spike.

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As SHIB's price hovers around the $0.000012 line at an already precarious support level, the on-chain chart makes it evident that the total volume is spiking. A volume spike in SHIB without a corresponding increase in price has historically indicated that whales are taking advantage of exit liquidity rather than long-term positioning. It is the same this time. The implication is clear: the market is quietly bleeding beneath the surface as prices continue to decline and fail to hold important thresholds.

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SHIB/USDT Chart by TradingView

The price chart presents a similarly bleak image. SHIB has clearly lost control of all of the main moving averages. Now serving as strong resistance zones, the 50 EMA and 100 EMA are driving the price lower. With red bars consistently outpacing, green volume supports the sell-side pressure.

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The RSI confirms weak momentum as it has fallen below neutral and is currently in bearish territory. Additionally, SHIB was unable to recover crucial support at approximately $0.00001288 and has been consolidating slightly above the year's lows. We can infer a lot about market sentiment from the fact that this occurred concurrently with a 16 trillion volume; large holders may be pulling out.

This surge in activity is unlikely to result in a recovery unless SHIB reverses sentiment or experiences a resurgence of retail interest. The SHIB army might have to reorganize because this type of whale action usually comes before a breakout but before surrender. In summary, do not mistake activity for strength. The rally is not being supported by the fundamentals, and SHIB is in risky territory with little chance of short-term growth.

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