Shiba

DeFi

Bitcoin

mini

Shiba Inu

<p>The post <a href="https://coinpedia.org/news/shiba-inu-news-today-shib-price-poised-for-breakout-as-whale-accumulation-surge/" rel="noopener noreferrer nofollow">Shiba Inu News Today: SHIB Price Poised for Breakout as Whale Accumulation Surge</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Shiba Inu (SHIB) price has been rising since last October, after being trapped in a bearish market for the prior two years. Amid the mainstream adoption of meme coins, the Ethereum-based project experienced a mini decoupling from other altcoins in recent times.&nbsp;</p>
<p>As the mid-cap altcoin continues to consolidate in a triangular pattern on the daily time frame, on-chain data shows that non-exchange whales have been accumulating in the recent past.&nbsp;</p>
<p>According to on-chain data analysis provided by <a href="https://x.com/santimentfeed/status/1810792970649751591?s=46" rel="noopener noreferrer nofollow">Santiment</a>, the top 150 Shiba Inu whales, excluding addresses associated with exchanges, accumulated more than 6.5 trillion SHIB tokens in the past month.&nbsp;</p>
<p>Meanwhile, the top 150 SHIB addresses associated with crypto exchanges registered a decline of about 5.53 trillion Shiba Inu tokens in the past month. The increased demand for Shiba Inu from whale investors indicates an inevitable price rally ahead.</p>
<h2 class="wp-block-heading" id="h-shiba-inu-ecosystem-ready-for-mass-adoption">Shiba Inu Ecosystem Ready for Mass Adoption</h2>
<p>In the past year, the Shiba Inu ecosystem has significantly benefited from the Shibarium layer two network. Already, a dozen DeFi projects have launched on the Shibarium network, thus increasing overall on-chain activity and the underlying burn rate.</p>
<p>Meanwhile, Shiba Inu has received remarkable support from dozens of enterprises worldwide that accept crypto as a means of payment. Moreover, the meme coin has deep liquidity and a vibrant online community of over 1.3 million holders.</p>
<h2 class="wp-block-heading" id="h-mid-and-long-term-price-expectations-nbsp">Mid and long-term Price Expectations&nbsp;</h2>
<p>Shiba Inu’s price has been undergoing a market correction in the past four months, which has been a huge opportunity for long-term investors. Moreover, a fresh altseason is expected to kickstart after Bitcoin dominance begins a reversal in the near term.</p>
<p>From a technical standpoint, Shiba Inu’s price rebounded on the 50 weekly Moving Average (MA), thus successfully retesting the macro bullish breakout. As a result, Shiba Inu’s price aims to retest for its all-time high in the near term.</p>

Shiba Inu News Today: SHIB Price Poised for Breakout as Whale Accumulation Surge

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Інші статті, опубліковані 11 лип. 2024 р.

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