As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed numerous market cycles and trends that have shaped my perspective on investment strategies. The recent surge in Shiba Inu (SHIB) price has caught my attention, as it mirrors similar patterns I’ve observed during my career.
For the past four consecutive days, the value of Shiba Inu has been climbing steadily, suggesting a robust market for the meme coin. This upward trend comes after a period when market makers manipulated the price movement by forcing it below crucial support or resistance levels, aiming to seize liquidity accumulated in those areas.
As a researcher examining the current state of the Shiba Inu (SHIB) cryptocurrency, I’ve noticed an upward trend in its price. If market conditions continue to be favorable, this bullish momentum could potentially extend our weekly gains by approximately 8%.
Why Liquidity Runs are Good For Shiba Inu Price
As an analyst, I’d describe a liquidity run as a scenario where the value of an asset experiences rapid fluctuations, frequently crossing crucial price thresholds. These shifts in price are typically triggered by intense buying or selling activities.
The Shiba Inu price chart below shows the two liquidity runs on August 22-26 and September 5-8.
Investment sprees on Shiba Inu tokens could be beneficial due to their ability to trigger heightened market turbulence and substantial price fluctuations, a phenomenon favored by investors. This instability opens up trading possibilities since rapid price changes disrupt existing market patterns, providing potential openings for strategic buying.
It’s clear that the price of whale-related transactions for Shiba Inu has skyrocketed by a massive 367% within the past 24 hours, as reported by IntoTheBlock. This surge is indicated by a significant increase in large transaction volume, amounting to approximately 3.21 trillion SHIB ($43.52 million) over the same period. This suggests that whale activity has been on the rise, whether they’re buying or selling Shiba Inu coins.
On September 9, there was a significant increase of 164% in large Shiba Inu investments coming in, as observed. This metric focuses on the money flowing into wallets managed by major investors, often referred to as “whales.” This surge might suggest that these whales are purchasing SHIB.
The evidence also points to this being the case because, following the liquidity drain between September 5th and 8th, the value of SHIB was beginning to rebound. It’s worth noting that whales often prefer to purchase in bulk after substantial price drops.
Over the past 24 hours, the value of SHIB has decreased by 1.4%. It’s currently being traded at $0.00001321. Some investors and major shareholders might be planning to buy, potentially signaling an upcoming price increase.
SHIB Price Could Extend Weekly Gains By 8%
Over the past four days, the price of Shiba Inu demonstrated remarkable resilience. Examination of the candlesticks indicates a growing buyer’s dominance, suggesting a strengthening market position following its recovery from the recent liquidity crisis.
Despite Shiba Inu’s price drop erasing most of its weekly gains, a closer look at the market dynamics suggests there might be more going on beneath the surface.
Example: The SHIB token has returned to the confines of consolidation for now. Moreover, considering the past surge in supply-side liquidity, it’s projected that Shiba Inu could surge to approximately $0.00001450, which represents an 8% increase from its current value.
At approximately $0.00001360, a significant resistance point has halted the upward momentum of SHIB. Yet, with rising market turbulence and heightened whale activity, it’s possible for this barrier to be breached unexpectedly.
If Shiba Inu’s price doesn’t stay above approximately $0.00001310, there’s a possibility it might dip further to around $0.00001270. This could disrupt the current optimistic trend and align with an undesirable head-and-shoulders pattern that might drive its value down to about $0.00001.
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2024-09-11 08:14