On a single day, there are 6.4 billion coins $SHIB in circulation, and short-term interest has definitely been brought back into focus, but 'on-chain activity' doesn't necessarily mean 'trend reversal'.
For SHIB, the key isn't just how large the transfer volume is on a particular day, but whether we can see:
1) Consistent volume increase, not just impulsive spikes;
2) Can the price reclaim key resistance levels;
3) Are the whales accumulating or distributing;
4) Is the sentiment in the memecoin sector starting to warm up again.
If it's just funds migrating between addresses, the weak pattern may not change; only if it's accompanied by a volume breakout and a rising community narrative is it truly worth watching. In the short term, we look at sentiment, while for trends, we look for confirmation. #SHIB #ShibaInu #Memecoin
For SHIB, the key isn't just how large the transfer volume is on a particular day, but whether we can see:
1) Consistent volume increase, not just impulsive spikes;
2) Can the price reclaim key resistance levels;
3) Are the whales accumulating or distributing;
4) Is the sentiment in the memecoin sector starting to warm up again.
If it's just funds migrating between addresses, the weak pattern may not change; only if it's accompanied by a volume breakout and a rising community narrative is it truly worth watching. In the short term, we look at sentiment, while for trends, we look for confirmation. #SHIB #ShibaInu #Memecoin