Shiba Inu Whale Activity Signals Optimistic 7,145% Surge Potential
Shiba Inu (SHIB), the popular meme coin, has seen better days. Over the past six months, it has lost more than half its value. As of today, SHIB is trading at $0.0000138, a steep 70% drop from its peak of $0.000045 in March. For investors who bought at that high, the downturn has been harsh.
Despite the drop, Shiba Inu has shown some resilience. In the last week, it gained 6.5%, though its month-long performance remains flat with just a 0.66% increase. But things may be about to change.
Crypto analyst LuckSide, known for his bold predictions, believes Shiba Inu is nearing a significant price surge. He recently stated that SHIB could hit $0.001, a target that would represent a 7,145% increase from its current price. LuckSide points to several factors driving his optimistic outlook, with whale activity being a major catalyst.
Shiba Inu Whales Accumulate Over 3 Trillion Tokens
According to on-chain data, whales have been unusually active in the SHIB market. Over a span of just two days, they accumulated more than 3 trillion SHIB tokens. These whales also pulled over $4 million worth of SHIB from exchanges, signaling strong confidence in the assets future.
While retail investors have been less active lately, LuckSide argues that this is temporary. He predicts that as whales continue to accumulate, retail traders will follow, driven by fear of missing out (FOMO). This could lead to a rapid price increase once SHIB breaks above the key resistance level of $0.000016, which is only 16% above its current value.
LuckSide acknowledges that reaching $0.001 wont happen overnight, but he believes the groundwork is being laid. With whales on the move and a thin liquidity band in higher price ranges, SHIB could explode once it clears its current consolidation phase.
The road ahead is uncertain, but for Shiba Inu holders, the potential rewards could be massive.
Read more: https://www.tronweekly.com/shiba-inu-activity-signal-7145-surge-potential/
Text source: TronWeekly
