Shiba Inu (SHIB): Almost 200% in 24 Hours, What's Up?

The Shiba Inu market has been remarkably stagnant, but now it is showing signs of life. The most noteworthy trend, based on on-chain data, is a 195% rise in small transactions or transfers worth between $1 and $10. The spike in microtransactions, which some may write off as noise, is frequently a precursor to grassroots accumulation by retail participants rather than coordinated whale activity.

These groups of low-value transactions have historically come before more significant movements because smaller investors tend to position themselves before expected catalysts. According to the price chart, SHIB has had difficulty regaining traction since peaking at about $0.000035. The asset has been in a protracted downward trend for the past few months, continuously failing to rise above the 100 EMA (now around $0. 00001478).

It has, however, been able to maintain the critical support level just below $0.0000100 establishing a risky but possibly bullish position should buyers revive. SHIB is getting close to oversold territory, as indicated by the RSI, which is circling 39. This interpretation supports the theory that many traders have given up, which allows for a relief rally in the event that sentiment changes.

Significantly, the increase in microtransactions and the lack of strong price action indicate that smaller investors are covertly building up in hope of a recovery. The overall transaction count profile, however, indicates that large and midsize transfers or those involving $1,000 to $1 million continue to be modest, declining between 13 and 20% over time.

This shows that although individual wallets are starting to awaken, institutional or large-scale interest has not yet made a comeback. In general, SHIB is showing early shaky indications of a possible reversal, with grassroots accumulation subtly laying the groundwork under the surface.

The price may experience its first sustained upward momentum in months if it can regain the above cluster of moving averages, especially the 50 and 100 EMAs. However, traders should remain vigilant until that time comes because the market is still thin, and any rally could be short-lived without more widespread support.