Shiba

Millions

Shiba Inu

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 <p>Shiba Inu (SHIB) has been in a bearish slump to start the year. The meme-coin is currently trading at $0.000009052 but was lower than the $0.000009 support this week. However, some projections remain optimistic that SHIB can break out, and that a major pump is coming.</p>
 <p><strong>Also Read: Shiba Inu (SHIB) Large Transactions Surge 300% to Reach $178M</strong></p>
 <h2 class="wp-block-heading" id="h-is-shiba-inu-ready-to-rally-three-indicators-why">Is Shiba Inu Ready to Rally? Three Indicators Why</h2>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="585" src="https://cdn.thebittimes.com/images/2024/01/27/9336a3133d3c0d061afd84e7e0ee20b1.webp" alt="Shiba Inu ladder climb ATH all time high SHIB" class="wp-image-122044" srcset="https://cdn.thebittimes.com/images/2024/01/27/9336a3133d3c0d061afd84e7e0ee20b1.webp 1024w, https://cdn.thebittimes.com/images/2024/01/27/9336a3133d3c0d061afd84e7e0ee20b1.webp 300w, https://cdn.thebittimes.com/images/2024/01/27/9336a3133d3c0d061afd84e7e0ee20b1.webp 768w, https://cdn.thebittimes.com/images/2024/01/27/9336a3133d3c0d061afd84e7e0ee20b1.webp 380w, https://cdn.thebittimes.com/images/2024/01/27/9336a3133d3c0d061afd84e7e0ee20b1.webp 550w, https://cdn.thebittimes.com/images/2024/01/27/9336a3133d3c0d061afd84e7e0ee20b1.webp 800w, https://cdn.thebittimes.com/images/2024/01/27/9336a3133d3c0d061afd84e7e0ee20b1.webp 1050w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <p>While the price and trading volume might be low at this time, the underlying profitability of SHIB addresses has risen from 24%. Furthermore, Shiba Inu has seen its large transactions increase by 300% to reach a total of $178 million over the last 24 hours. With these transactions underway, some may suggest that Shiba Inu is set for a big rebound. Here are further indicators that SHIB may be ready for a major pump.</p>
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  <li>The aforementioned profitability of SHIB addresses. The total rise, compared to previous reports, is up to just over 25% from 24%.</li>
  <li>An uptick in SHIB burn rate. Millions of SHIBs are still sent to dead wallets daily, despite the slump of Shiba Inu.</li>
  <li>Large SHIB accumulation by whales. With the coin down in price, whales are picking up as much as they can, as well as other cryptocurrencies that are currently down.</li>
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 <p><strong>Also Read: Shiba Inu Breaks Below Key $0.000009 Support; What’s Next For SHIB?</strong></p>
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 <p>For now, SHIB is clinging above its 0.5 Fib line around $0.0000087. However, continued pressure risks breaching that support to feed additional capitulation toward the highly symbolic $0.000008 figure, which represented resistance last November.</p>
 <p>A sudden surge of buying interest and positive sentiment tied to crypto-specific developments could prevent the meme coin from extending its protracted crash since 2021 all-time highs. However, we’ll have to wait to see if these three indicators continue, and will ultimately factor into a rally.</p>
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<div class="cs-entry__tags">
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  <li>shib</li>
  <li>shiba inu</li>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/shiba-inu-3-reasons-why-shib-is-ready-for-a-major-pump-tbt77919.html">https://thebittimes.com/shiba-inu-3-reasons-why-shib-is-ready-for-a-major-pump-tbt77919.html</a></p>

Shiba Inu: 3 Reasons Why SHIB is Ready for a Major Pump

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