After a period of subdued performance over the weekend and Monday, the Shiba Inu network is showing signs of resurgence, buoyed by increased whale activity. Nearly eight trillion Shiba Inu tokens were transacted across various entities, indicating renewed interest in the market.

Recent data reveals a notable uptick in large transactions within the Shiba Inu network over the past 24 hours. The number of such transactions has surged to 153, compared to the seven-day low of 101, signaling heightened activity among major market players, commonly referred to as whales. These whales are actively moving substantial amounts of SHIB, suggesting potential accumulation or strategic positioning strategies.

Within the span of 24 hours, over 7.53 trillion SHIB tokens were transacted, indicating a surge in liquidity and activity compared to the recent low of 1.36 trillion SHIB. While the market had anticipated increased interest following a seven-day high of 161 trillion SHIB on June 5, the continued involvement of key players underscores ongoing market dynamics.

Currently trading slightly below its 100 EMA at approximately $0.000022, SHIB faces challenges in maintaining crucial support levels, as recent price action indicates. However, the surge in large transactions may signal potential future increases, potentially leading SHIB to breach present resistance levels and target higher price points if whale activity persists.