SHIB’s price has increased by 7.56% since rejecting the $0.00001270 support level in the past 24 hours.
Indicators and market signals suggest that a further upside rally could be in the cards.


Shiba Inu Coin (SHIB) has experienced a strong rebound recently. The price has rallied 31% to current levels after rejecting the bullish flag support around $0.00001270 on July 5.

As of this writing, the price of Shiba Inu Coin has risen 7.56% in the past 24 hours and is close to last week’s high. CoinMarketCap quoted it at $0.00001698, with a market capitalization of $10 billion.

This growing bullish momentum suggests that buyers are confident. However, SHIB must close above the weekly high to confirm a long-term uptrend.

Indicators paint a positive picture for SHIB

AMBCrypto’s analysis of IntoTheBlock data shows that there are several positive indicators for SHIB bulls. At current prices, 49% of holders are “in the money”, while only 47% are “out of the money”.

This relatively balanced positioning reduces the risk of large-scale profit-taking that could hinder the bull run.

In addition to the above, whales control 73% of SHIB. This high concentration can amplify price fluctuations, depending on the behavior of whales.

Interestingly, Shiba Inucoin (SHIB) has a high price correlation with Bitcoin of 0.84, showing that it may be closely linked to the broader cryptocurrency market rally led by Bitcoin.

According to our analysis of IntoTheBlock's growth data, the "Inside the Price" indicator shows 2.11%, indicating high bullish expectations, while the network growth rate is 0.19%, which is in the neutral range. The imbalance of buy and sell volume shows strong bullish momentum, reaching 82.02%, showing the strengthening of buying pressure.

Regarding investor sentiment and token distribution, we further analyzed IntoTheBlock’s data on SHIB’s concentration. The structure of holders shows that the investor group is in a “wait-and-see” state, with 77% of addresses holding for more than 12 months.

This long-term holding pattern helps maintain price stability and reduces potential selling pressure during rallies.

The data presents an interesting pattern regarding the distribution of tokens between whales and retail investors. While only seven whale addresses control 59.65% of SHIB tokens, 44 active investor addresses hold 13.52%.

This combination of large shareholders and a growing group of retail investors is likely to drive market volatility and continue to attract investor interest.

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Recent price gains and indicators are sending bullish signals for SHIB. However, given its historical volatility and reliance on overall market sentiment, investors should remain cautious.

If SHIB can maintain its momentum and break out above key weekly highs, we could see a continuation of this bullish trend.

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