Memecoin Shiba Inu
has prepared a 3% recovery from low down to the night below $ 0.00001200, which surpasses Bitcoin despite reports of a massive whale transaction.
On Thursday, Shib experienced a significant correction of 7.7% and fell to 0.0000119 before finding strong support at the 0.0000120 level. Prices have since jumped to $ 0.00001241 according to Coindesk data.
A massive whale transaction of 2.87 trillion Shib worth $ 36 million to Coinbase Institutional, initially triggered market problems, according to Coindesk’s AI research. However, the transaction was later identified as being associated with custody of the market rather than a whale that wants to sell coins.
Despite the recovery, Shib is still 10% lower for the week as investors navigate wider market pressure. Furthermore, Cryptocurrency remains stuck in a downward trending channel identified by trend lines connecting the heights on May 12 and 23, and the low on May 17.
AI Technical Insight into the Last 24 Hours
- Shib fell from 0.0000129 to a low level of 0.0000119, representing a decrease of 7.7% with unusually high volume (2.9B) over 19:00 hours of sale.
- The price found strong support at the 0.0000120 level with accumulation The proof of volume above average, which establishes a clear demand zone.
- An increasing support trendline is formed in the recovery phase with the price that stabilizes about 0.0000122, approx. 4.9% over the period low.
- Shib demonstrated a significant recovery pattern in the last hour and climbed with remarkable volume tips.
- Significant accumulation occurred at. 07:55 with unusually high volume (32.3b).
- A clear resistance zone occurred at. 0.0000123, which was successfully broken in the last minutes of the period.
