SHIB Price Analysis: Big Moves Of Whales In Shiba Inu, What Next?

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1 Shiba inu experiences a sudden surge from the whale’s activity.

2 SHIB whales Aquire more than 1 Trillion Shiba Inu in a span of 2 months.

Big whales activity in Shiba Inu, as per the Santiment on-chain data wallet addresses reach 10 Million to 100 Billion in the span of 8 weeks. SHIB experience a significant surge of this move. Analysts are already predicting the bull run in shiba inu.

The upcoming Shibarium launch also adds more value to SHIB and makes it a valuable crypto. Shibarium is a layer 2 solution that the Shiba Inu ecosystem is building. It will leverage the Ethereum blockchain’s security and infrastructure while offering faster, lower-cost, and more efficient transactions for SHIB and other tokens.

Currently, it is trading at the price of $0.00000839. The coin’s price increased by 2.57% in 24 hours. The crypto price has been observing an increase of 7.02% in the last seven days with a market capitalization of $4.945 Billion.

Shiba Inu Crypto Price Technical Analysis

dd by shubhamsm006 on TradingView.com

SHIB’s price has broken above the 50 SMA and is moving toward the 200 SMA. This shows that the price is on an upward trend.

The RSI line is in the overbought territory. The RSI line is at 65.93. The 14 SMA is at 53.84 points. This means that the market is overbought.

MACD is bullish right now. The MACD line is higher than the signal line, and both lines are above the zero line. This signals that the price has positive momentum.

Support and Resistance Levels

The current support level is $0.00000738.
The current resistance level is $0.00000999.

Conclusion

SHIBA INU has a bright future ahead. Based on the current data and analysis, it is in a bullish trend. The price may continue to rise in the next few days, thanks to the positive news and the upcoming Shibarium launch. SHIBA INU’s price reflects an optimistic outlook right now. Key technical indicators such as SMAs, RSI, and MACD confirm the positive momentum of the coin. This could attract more investors and traders to join the SHIB army.

Disclaimer

The research provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.