Shiba Inu Coin breaks out strongly, 351% increase is coming?

If the price of Shiba Inu (SHIB) recovers again, the outlook will be very positive. Marks pointed out that SHIB has broken out of the descending wedge, which is usually an important signal for the rise. He predicts that the price of SHIB may rise by 351% and believes that it may reach $0.000081 after the breakout. SHIB's increasing attention in the Meme Coin market has attracted more investors.

Currently, Bitcoin is struggling to stay above $60,000, and the meme coin market has gradually recovered, attracting new attention. Although SHIB and Dogecoin (DOGE) have recovered more slowly, these large meme coins still show strong market support.

Although the increase is not as good as its competitors, SHIB is still growing steadily. As of now, the price of SHIB is $0.00001772, up 5.38% in the past 24 hours and 33.38% in the past 30 days. A strong holder base is one of the important reasons why SHIB can maintain its market position. SHIB currently controls 302 trillion tokens, and more than 668,000 addresses hold 100 billion to 10 trillion SHIB tokens.

Such a concentrated holding volume shows that "whales" (large investors) are confident in the future of SHIB. According to IntoTheBlock, about 49% of SHIB investors are still profitable, and this proportion may continue to increase as the market recovers, showing that SHIB still has great growth potential.

In terms of development, SHIB's ecosystem is also gradually expanding. According to the latest data, the daily transaction volume of its layer 2 blockchain Shibarium has increased by 70%. This performance shows that user participation within the ecosystem is increasing. At present, Shibarium's total locked value (TVL) is US$1.2 million, and the number of wallet addresses has reached 1.816 million.