Shiba Inu [SHIB], the second-largest memecoin by market cap, has been consolidating near the $0.000014416 support zone for quite some time. The coin has tested this price level three times but has never broken below it.
However, the price action of the SHIB/USDT pair is currently showing a potential breakout from the 75-day price zone. At the time of writing, the Bollinger bands, which were previously tight, are starting to widen.
This development could indicate the end of the consolidation. Furthermore, the Wave Trend Momentum indicator has created a golden cross, which further indicates increasing buying pressure along with market momentum.
With the crypto market showing overall strength, as demonstrated by Bitcoin and most altcoins, SHIB presents a reasonable opportunity for long-term investment.
If Shiba Inu passes the consolidation phase and confirms with a retest, the coin could see gains of up to 110%, if it rises to $0.00002949 next year. A 300% gain is also possible, as TinTucBitcoin's previous analysis has shown.
Delta Liquidity Order Book SignalsâŠ
The aggregate order book depth spread, which measures liquidity in buy and sell orders, indicates that there are currently more buy orders than sell orders.
Since April 25, most days have seen stronger buy-side liquidity, with only 15 days showing a sell-side dominance.
This trend shows that traders are accumulating despite the limited movement and downtrend. The accumulation of long positions further supports the idea that SHIB is approaching a breakout level from the Bollinger Band squeeze.
Although order book liquidity does not determine price independently, large buy orders can act as a catalyst, driving SHIB's price higher.
SHIB liquidation heat map
The market tends to focus on high liquidation clusters, so the current price action of SHIB is likely targeting the $0.0000146 level, where approximately $3.49 million of SHIB will be liquidated.
Further price increases could trigger additional liquidations, including $2.91 million at $0.0000147.
As these zones are close together, even a short price spike could help collect this liquidity. As liquidity is leveraged, SHIB is likely to move further to $0.000015, where $3.13 million is waiting to be liquidated.
These clusters act as magnets, and when released, they could push the price of SHIB higher, towards liquidity which is currently sitting just below the current price of $0.0000128, where there is approximately $3.2 million of SHIB waiting to be liquidated.
Concentration of ownership
History shows that whales have dominated the ownership of SHIB, holding 59.97% of the total supply, or 589.99k SHIB. Investors hold 26.74%, while retail traders hold 13.29%, or 130.78k SHIB.
Whale holdings increased by 0.12%, while large investor holdings also increased by 0.46%. Meanwhile, retail investor holdings decreased by 0.41%, but this is not a major cause for concern.
The increasing accumulation from whales and large investors suggests that a breakout and price increase of SHIB may be imminent.
