The post Shiba Inu Price Prediction, 30% Rally Imminent? appeared first on Coinpedia Fintech News

After notable price surges in several cryptocurrencies, a crypto whale has made a significant bet on Shiba Inu (SHIB), which is poised for upside momentum. On January 1, 2024, the blockchain-based transaction tracker Lookonchain posted on X (formerly Twitter) that a crypto whale had withdrawn 220 billion SHIB meme coins, worth $4.63 million, from Binance.

Whales Buy 220 Billion SHIB Coins

Lookonchain also noted that this wallet holder made the substantial acquisition after remaining dormant for five months. This suggests the whale’s belief in and confidence in the meme coin. Additionally, it indicates an ideal buying opportunity and potential upside momentum.

A whale withdrew 220B $SHIB($4.63M) from #Binance 2 hours ago after being dormant for 5 months.https://t.co/vHHs25C754 pic.twitter.com/r0sFEXMyEC

— Lookonchain (@lookonchain) January 1, 2025

Despite this notable acquisition, the meme coin did not experience any significant rally, though it gained a modest 4% upside momentum. Currently, SHIB is trading near $0.000022 and has recorded a price surge of over 7.65% in the past 24 hours.

During the same period, its trading volume increased by 53.21%, indicating heightened participation from traders and investors amid a shift in market sentiment.

Shiba Inu (SHIB) Technical Analysis and Upcoming Levels 

With this substantial acquisition and price surge, SHIB has broken out of a descending triangle price action pattern on a four-hour time frame, signaling a shift in market sentiment among traders and investors.

Source: Trading View Shiba Inu Price Prediction

The recent price action reveals that if SHIB closes a four-hour candle above the $0.00002250 mark, there is a strong possibility it could soar by 30% to reach the $0.000029 mark in the near future.

On the positive side, SHIB’s Relative Strength Index (RSI) currently stands at 58.9, meaning it is below the overbought zone. This indicates that the asset has sufficient room to soar in the future.

Bullish On-Chain Metrics 

Currently, traders have increased their participation and interest in the meme coin, as revealed by Coinglass. The data shows that SHIB’s open interest has risen by 16% in the past 24 hours, reflecting growing confidence and interest among traders.

Additionally, on-chain metrics reveal that SHIB’s Long/Short Ratio currently stands at 1.09, indicating strong bullish market sentiment among traders. At present, 52.37% of top traders hold long positions, while 47.63% hold short positions.

Combining these on-chain metrics with technical analysis suggests that bulls are currently dominating the asset and could help the meme coin breach the $0.00002250 hurdle, paving the way for further upside momentum.

$SHIB



Hey Binance Fam,
Ever heard of Shiba Inu (SHIB)? This meme coin has been making waves in the crypto world, and while it's known for its volatility, there might be a low-risk, high-reward opportunity brewing right now!
What's the Buzz?
Take a look at the 6D chart above. You'll notice a strong support block forming. This means that SHIB has been holding its ground at this price level, indicating potential for a bullish breakout.
So, What Does This Mean for You?
If you're feeling bullish on SHIB, now might be the time to consider gradually accumulating your position. Here's the strategy:
* Wait for Retest: Keep an eye on the support block. Once SHIB retests this level, it could be a good entry point.
* DCA (Dollar-Cost Averaging): Don't put all your eggs in one basket! Spread out your purchases over time to reduce your risk.
* Set Realistic Targets: Aim for at least a 20% profit. Remember, SHIB is volatile, so don't get greedy!
Why SHIB?
* Strong Community: SHIB boasts a passionate and dedicated community, which can fuel price rallies.
* Burning Mechanism: A portion of every transaction is burned, reducing the circulating supply and potentially increasing value.
* Low Entry Point: Compared to some other cryptocurrencies, SHIB offers a relatively low entry point, making it accessible to a wider range of investors.
Disclaimer: This is not financial advice. Always do your own research before making any investment decisions.
Ready to Ride the SHIB Wave?
If you're looking for a potentially high-reward opportunity with a relatively low risk, SHIB might be worth considering. Just remember to stay informed, manage your risk, and don't get carried away by the hype!
Let's hear your thoughts in the comments! Do you think SHIB is ready for a breakout?
#SHIB #Binance #Crypto #MemeCoin #Investment #Opportunity

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