Four signs that Shiba Inu (SHIB) may be on the verge of a major breakout based on technical analysis and on-chain data:
1. The inverse price target model shows growth momentum
• Technical analysis records the 'inverse price target' pattern of Shiba Inu, a strong signal that often indicates a bullish trend.
• This pattern forms when the price of SHIB rebounds after periods of decline, accompanied by a slowdown and accumulation of momentum, reinforcing the likelihood of a breakout.
2. Sell pressure has significantly decreased according to on-chain data
• According to on-chain data, sell pressure for SHIB has significantly decreased in recent days.
• This decline indicates that investors are reducing sell-offs, which decreases the supply on exchanges, contributing to a price increase in the near future.
3. Increased confidence from investors
• Market signals indicate that most investors are holding SHIB long-term instead of selling off. This creates a stable foundation for the price and reflects growing confidence in its growth potential.
• Maintaining low sell pressure during volatile periods indicates that the investment community has a more optimistic attitude than before.
4. The majority of SHIB holders are still in profit
• Analytical data shows that the majority of current SHIB holders are in profit.
• This trend encourages them to hold or reinvest in SHIB, creating a positive cycle for both the token's value and on-chain activity.
Overview
With the above signs, Shiba Inu is receiving significant interest from the investor community and has the potential to become one of the meme coins that breakthrough strongly in the near future. However, investors need to continue monitoring market fluctuations and technical signals to make appropriate decisions.