Shiba

Rally

Bitcoin

Shiba Inu

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-price-climbs-to-22-month-high/" data-wpel-link="internal">Shiba Inu Price Climbs to 22-Month High</a><br></p>
<p style="text-align: justify">The recent price increases of <a href="https://en.coin-turk.com/shiba-inu-token-burn-and-market-trends/" data-wpel-link="internal">Shiba</a> Inu are sweeping through the <strong>cryptocurrency</strong> market like a storm. In particular, the rise in <a href="https://coin-turk.com/on-chain-analisti-acikladi-veriler-bitcoinin-fiyat-yonu-ile-ilgili-hangi-sinyalleri-veriyor" data-wpel-link="internal">Bitcoin</a> demand through spot ETFs and the significant upticks in on-chain activities have propelled SHIB’s price to its highest level in 22 months. This situation has captured the attention of many investors and crypto enthusiasts, raising expectations for the future.</p> 
<h2 style="text-align: justify" id="shiba-inu-price-reaches-new-heights">Shiba Inu Price Reaches New Heights</h2> 
<p style="text-align: justify">Shiba Inu’s price has reached a new peak of $0.000023, a 22-month high, due to increased <strong><a href="https://en.coin-turk.com/expert-warning-of-a-new-crash-for-bitcoin-2022-may-no-longer-be-the-year-of-the-dip/" data-wpel-link="internal">Bitcoin</a></strong> demand via spot ETFs and significant on-chain activities. However, as the market prepares for a potential pullback, what awaits SHIB enthusiasts?</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-322223 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/shib-coin-turk-com-.png" alt="" width="1557" height="667"></p> 
<p style="text-align: justify">Shiba Inu (<strong>SHIB</strong>), the second-largest meme coin, recorded a staggering 120% growth by climbing for eight consecutive days, from $0.00000923 to $0.00002055. This upward momentum, supported by rising volume and the emergence of a bullish reversal formation, indicates that SHIB might be gearing up for a significant rally.</p> 
<h2 style="text-align: justify" id="key-on-chain-activities-fueling-shib-s-rally">Key On-Chain Activities Fueling SHIB’s Rally</h2> 
<p style="text-align: justify">The recent price surge of SHIB can be linked to notable on-chain activities, as highlighted by Spotonchain. An investor known as “0x37d” strategically withdrew 75.91 billion SHIB from <strong><a href="https://en.coin-turk.com/us-regulatory-shake-up-in-crypto-sector-impact-and-response-from-binance-and-coinbase/" data-wpel-link="internal">Binance</a></strong> a few days before the rise, leading to a significant 69% profit increase and a gain of $614,000.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-322222 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/shiba-coin-turk-com-.png" alt="" width="591" height="458"></p> 
<p style="text-align: justify">Additionally, the founder of MakerDAO joined the race by purchasing 7.41 billion SHIB for the first time, securing a 47.1% return and a profit of $47,100. Notably, a wallet associated with Upbit accumulated an astonishing 2.13 trillion SHIB in just 24 hours, solidifying its position as the seventh-largest SHIB holder with 12.45 trillion SHIB. These strategic moves by leading players indicate an increase in SHIB accumulation.</p> 
<h2 style="text-align: justify" id="supply-pressure-and-potential-pullback">Supply Pressure and Potential Pullback</h2> 
<p style="text-align: justify">Despite the rising momentum, SHIB faces supply pressure at $0.0000212, as indicated by the long wick of a rejected candle on the daily chart. This overall selling pressure could trigger a minor pullback, potentially retesting the recently reclaimed levels of $0.00001788 and $0.00001518.</p> 
<p style="text-align: justify">However, such corrections are considered healthy for SHIB to sustain a long-term rally. It also allows buyers to reposition and strengthen their holdings during temporary declines.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/shiba-inu-price-climbs-to-22-month-high/" data-wpel-link="internal">Shiba Inu Price Climbs to 22-Month High</a></h5>

Shiba Inu Price Climbs to 22-Month High

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