As a researcher with a background in cryptocurrency analysis, I’ve observed that Shiba Inu (SHIB) exhibits a consistent weekly market cycle based on trading volume. The meme coin typically experiences a noticeable price spike at the beginning of each week, followed by a gradual decline throughout the rest of the week. This pattern suggests some form of asset reset in accordance with trading dynamics.
As an analyst, I’ve noticed that Shiba Inu appears poised to commence a fresh weekly market cycle based on its current trading volume trends. This coin follows a consistent pattern where its trading activity spikes at the onset of each week, only to decrease gradually as the week progresses.
Shiba Inu exhibits a regular pattern with a significant increase at the start of every week, followed by a gradual decrease. This behavior could indicate some form of weekly reset for this asset, aligning with the market’s trading rhythms. The current price stands at $0.00002446, and it has managed to stay above the 50-day Exponential Moving Average. This is a positive signal for buyers.
On-chain data insights
As a researcher analyzing the current market situation, I’ve discovered that approximately 60% of investors are experiencing profits, while around 4% find themselves at the breakeven point. The remaining 35% unfortunately, are incurring losses. This distribution represents a relatively robust base, with the majority of investors enjoying positive returns.
Approximately 73% of Shiba Inu (SHIB) tokens are controlled by large holders, implying these entities could significantly influence price trends.
As a researcher examining financial transactions, I’ve discovered that the cumulative value of deals exceeding $100,000 during the past week surpassed an impressive figure of $635.45 million. This substantial volume suggests significant activity from large-scale investors or financial entities.
Currently, the overall feeling towards Shiba Inu in the cryptocurrency market is optimistic. This is apparent through various on-chain and exchange signals.
Signals from the blockchain: A 0.32% increase in network expansion suggests that SHIB might attract new investors. Major deals represent a 3.95% bullish sign, implying significant involvement from large-scale investors.
As a crypto investor, I interpret the current market signals for Shiba Inu in the following way: The smart money price maintains stability, but the imbalance between bid and ask volume reveals a negative 0.53% reading. This suggests that there’s an ongoing equilibrium of demand and supply in the market. However, the significant presence of large holders and a high volume of substantial transactions hint at a bullish outlook for Shiba Inu.
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2024-05-27 12:02