As a seasoned researcher with over two decades of experience in the financial markets, I find the recent developments surrounding Shiba Inu intriguing and potentially lucrative. The predicted 300% price rally for SHIB is reminiscent of the wild west days of Bitcoin’s early years.
The cost of Shiba Inu may surge up to 300% due to an increase in whale activity, which is a positive sign for the second most popular meme coin by market capitalization. Other indicators on the blockchain also suggest a bullish outlook for SHIB, hinting that its upward trend could start at any moment.
Shiba Inu Price Eyes 300% Rally
In an X post, crypto analyst Javon Marks predicted that the Shiba Inu price could soon record a 300% rally. This came as he noted that the top meme coin is still fresh off a confirmed Hiden Bull Divergence and holding above the level it recently broke out from.
According to the analyst, Shiba Inu (SHIB) might soon experience a significant improvement, potentially reaching the predicted level of $0.000081. This potential surge, estimated to be around 300%, may happen quite soon.
A surge in Shiba Inu’s price toward $0.000081 could be important because it might help the second-largest meme token reach or even exceed its previous peak of $0.000088 – its all-time high (ATH). At present, this upward trend in Shiba Inu appears imminent as the coin seems to be closing the gap with Dogecoin, which is currently experiencing a strong run.
Over the past week, Dogecoin’s value has surged by approximately 23%. Conversely, Shiba Inu saw a modest increase of around 5% in the same timeframe. However, due to its tendency to follow Dogecoin’s price trends, Shiba Inu is anticipated to experience more substantial growth in the near future.
SHIB Whale Activity Surges
According to IntoTheBlock’s findings, there’s an increase in significant Shiba Inu transactions by whales. This surge represents approximately a 4% rise, indicating that these influential investors are actively buying up the popular meme token, SHIB.
As a researcher, I am optimistic about the potential rise in Shiba Inu prices given the active involvement of large token holders, often referred to as “whales,” who significantly influence price dynamics. These influential investors have been actively trading vast amounts of Shiba Inu tokens over the past few days, and their actions could potentially ignite a substantial rally in the near future.
As an analyst, I’ve noticed some significant movements in the Shiba Inu (SHIB) market. Specifically, within the past 24 hours, large investors, or “whales,” have exchanged approximately 2.57 trillion SHIB tokens. Interestingly, on November 6, these whales reached a 7-day high of 6.39 trillion SHIB tokens traded.
This usually indicates a pessimistic view for Shiba Inu’s price because it implies that a large investor (whale) is planning to sell their tokens. However, additional on-chain information reveals that the wallet where the coins were transferred belongs to one of the leading cryptocurrency exchanges, suggesting they are accumulating more coins to cater to the high demand for the meme coin.
Based on a recent study by CoinGape, various Shiba Inu on-chain indicators point towards a positive trend for this cryptocurrency. For instance, the SHIB price and Daily Active Addresses (DAA) have shown a significant divergence, which has reached its highest level in the past month.
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2024-11-08 20:26