Recently, an interesting phenomenon has appeared on the SHIB chain—324 billion tokens suddenly flowed into exchanges in large quantities. Converting this figure to USD market value is close to 3 million, which is indeed quite a significant scale. The community discussion has heated up, with some calling to buy in and others holding their wallets tightly, with backend messages exploding.
Let's first look at the current technical picture. SHIB is currently oscillating repeatedly at the 0.000009 USD price level. The RSI indicator is hovering at 44.1, which is in the neutral zone, with no obvious directional bias on the technical side. There's a support level at 0.000008 USD below, and resistance at 0.000010 USD above. Whether these two levels can be broken through directly affects the subsequent trend.
Returning to the anomaly of 324 billion tokens, there's considerable speculation in the market. My assessment is that this is more likely a tactical position restructuring by large on-chain holders rather than panic selling. Why? Recent on-chain data actually reflects a different signal—SHIB whales' holdings are actually increasing, with position sizes continuing to expand on a weekly basis. If it were a bearish large-scale exit, holding data should be trending downward, but reality is not like that.
This kind of shift in capital flows typically has two causes: one is that whales are adjusting their position structure, and two is that they're utilizing the liquidity depth of exchanges to conduct partial trading. In the short term, such large capital movements will inevitably bring volatility—this risk needs to be clearly understood. I recommend continuing to observe how the technical support and resistance levels perform, don't be scared by short-term swings, and at the same time avoid blindly following the crowd to chase highs.
Recently, an interesting phenomenon has appeared on the SHIB chain—324 billion tokens suddenly flowed into exchanges in large quantities. Converting this figure to USD market value is close to 3 million, which is indeed quite a significant scale. The community discussion has heated up, with some calling to buy in and others holding their wallets tightly, with backend messages exploding.
Let's first look at the current technical picture. SHIB is currently oscillating repeatedly at the 0.000009 USD price level. The RSI indicator is hovering at 44.1, which is in the neutral zone, with no obvious directional bias on the technical side. There's a support level at 0.000008 USD below, and resistance at 0.000010 USD above. Whether these two levels can be broken through directly affects the subsequent trend.
Returning to the anomaly of 324 billion tokens, there's considerable speculation in the market. My assessment is that this is more likely a tactical position restructuring by large on-chain holders rather than panic selling. Why? Recent on-chain data actually reflects a different signal—SHIB whales' holdings are actually increasing, with position sizes continuing to expand on a weekly basis. If it were a bearish large-scale exit, holding data should be trending downward, but reality is not like that.
This kind of shift in capital flows typically has two causes: one is that whales are adjusting their position structure, and two is that they're utilizing the liquidity depth of exchanges to conduct partial trading. In the short term, such large capital movements will inevitably bring volatility—this risk needs to be clearly understood. I recommend continuing to observe how the technical support and resistance levels perform, don't be scared by short-term swings, and at the same time avoid blindly following the crowd to chase highs.