HomeNewsShiba Inu Bulls Gather Momentum: Trader Foresees Reaching $0.000014

Shiba Inu Bulls Gather Momentum: Trader Foresees Reaching $0.000014

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  • Major investor activity in Shiba Inu reflects a significant increase in capital flow.
  • SHIB Knight forecasts a potential increase in the price of Shiba Inu, marking a bullish milestone.

The famous Shiba Inu memecoin has increased its trading activity on a large scale, especially with respect to transactions made by large whales. IntoTheBlock’s blockchain data highlights this phenomenon, showing a considerable flow of capital into the Shiba Inu network.

Large Holders are divided between Whales, addresses with more than 1% of the circulating supply, and Investors, addresses that hold 0.1% to 1.0% of the circulating supply. All other addresses are considered Retail. – Source: InToTheBlock

In the last 24 hours, the number of high-value transactions has increased, reaching a total of$112.96 million, representing an increase of 454.16% compared to previous periods.

Source: InToTheBlock

This increase in high-value transactions, with each transaction exceeding $100,000, indicates substantial movement of funds by whales within the Shiba Inu ecosystem.

Increase in Long-Term Confidence

Despite the volatility observed in the price of Shiba Inu, investors are showing increasing long-term confidence in this cryptocurrency. This is reflected in the increase in the Traded Coin Holding Time, which has seen an increase of 652.17% over the last week.

Historical Concentration – Source_ InToTheBlock

This indicator suggests that investors are adopting an optimistic sentiment about Shiba Inu’s future potential, preferring to hold on to their tokens rather than sell or trade them quickly.

SHIB Knight Bullish Forecast

SHIB Knight has forecast an increase in the price of Shiba Inu in the coming weeks. Although SHIB currently faces solid resistance below the $0.00001 mark, SHIB Knight anticipates a bullish breakout after identifying a symmetrical triangle formation on the weekly time frame.

The breakout target is 1400. Confirmation of the breakout is necessary; it is currently still following the pattern. Source: X/@army_shiba

These types of breakouts on longer time frames usually lead to more substantial price movements, suggesting a positive outlook for SHIB.

According to SHIB Knight’s forecast, the price of Shiba Inu is likely to reach $0.000014, marking its highest level in more than a year.

Bullish Sentiment in the Shiba Inu Community

Bullish sentiment prevails in the Shiba Inu community, with numerous traders focused on reaching its all-time high as the market shows signs of moving towards an uptrend.

Recent analysis indicates that SHIB is currently trading within a descending channel. However, a breakout to the upside is anticipated in the coming weeks, which would mark the end of its bearish consolidation phase.

Source: Tradingview

If it manages to break through this resistance, SHIB’s first target would be $0.00002, with potential for 800% upside to its all-time high.

Whale activity, rising long-term investor confidence and SHIB Knigh’s bullish forecasts are key indicators that suggest a promising future for Shiba Inu in the upcoming bull market.

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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: [email protected] Phone: +49 160 92211628