The price of Shiba Inu is predicted to quadruple, following the trajectory of Dogecoin. This speculation is reinforced by the remarkable 7,000% accumulation of SHIB by large investors over the past week. The increased interest from large investors is interpreted as a positive signal for the future increase in value of SHIB.
Whale Accumulation Increases
Currently, the price of SHIB is trading around $0.00001880, reflecting a 0.6% decrease over the past 24 hours. This decrease reflects the price volatility observed in Dogecoin. Throughout this election period, the price of SHIB has remained stable, but recent strong buying by large investors has attracted attention, indicating potential for price increases.
Technical Indicators
According to IntoTheBlock data, large investors have accumulated SHIB by 7,469% over the past week. Although the monthly NetFlow is still 3,000% lower than the previous month, the weekly accumulation shows a change in trend. The increase in large volume transactions shows growing interest from investors.
Market Expectations
Cryptocurrency analyst Javon Marks predicts that the price of SHIB could reach $0.000081. According to Marks, the Relative Strength Index (RSI) of SHIB shows a bearish bearish formation on the daily chart. If this assessment is validated, the price of SHIB is expected to quadruple.
Indicators and Signs of Upward Movement
The average directional index (ADX) is currently at 16.46, indicating a potential for increased volatility. This situation implies fresh buying pressure for SHIB. Additionally, the MACD indicator is showing a bullish signal, while the RSI is at 56.96, suggesting an opportunity for a price increase before reaching overbought territory.