Shiba Inu Price Prediction: Is a 30% Increase Coming Soon?
A cryptocurrency "whale" has made a big bet on Shiba Inu (SHIB), withdrawing 220 billion SHIB coins worth $4.63 million from Binance, creating upward momentum. This wallet has remained silent for five months, suggesting confidence in SHIB and its potential for price increase. Nevertheless, the price has only increased slightly by 4%. SHIB is currently trading around $0.000022, up 7.65% in the past 24 hours, with trading volume increasing by 53.21%, indicating active participation from investors. SHIB has broken above a descending triangle price pattern on the four-hour timeframe, marking a shift in market sentiment. If it closes above $0.00002250, SHIB could rise by 30%, reaching $0.000029. SHIB's RSI is at 58.9, indicating further growth potential. On-chain metrics like the Long/Short Ratio are at 1.09, and open interest has increased by 16%, reflecting strong bullish sentiment. The combination of these indicators suggests that cryptocurrency "bulls" are currently dominant and could drive SHIB above the $0.00002250 mark.