Shiba Inu [$SHIB SHIB0.00002482+4.06%], the second largest crypto-meme coin in the world, is ready for a bullish movement after nearly 10 days of consolidation. It is reported that whales and institutions have acquired a significant 1.67 trillion #SHIB tokens from exchanges, as stated by a well-known crypto expert. Crypto whales are capturing 1.67 trillion SHIB tokens. Additionally, the expert noted a significant spike in outflows from exchanges observed on November 7, which led to a powerful 62% price increase for SHIB. This time, however, experts and crypto enthusiasts expect a similar upward momentum for the meme coin. Besides this mass acquisition, whales and investors seem to be becoming increasingly active with SHIB, leading to a significant increase in large transaction volumes by 98%, according to data from the analytical firm IntoTheBlock. The combination of these significant acquisitions and the growth in large transaction volumes indicates a strong buying opportunity and suggests bullish momentum. Technical analysis of SHIB and key levels According to the #TechnicalAnalysis expert, SHIB experienced a breakout from a bullish descending triangle on the four-hour chart at the time of writing. Based on the current price movement, if SHIB successfully breaks and closes a four-hour candle above the $0.000025 level, there is a high probability that the meme coin could rise by 45% and reach $0.0000365 in the coming days. Additionally, SHIB is currently trading above the 200 Exponential Moving Average (EMA) on both the four-hour and daily charts, signaling an upward trend. Meanwhile, its Relative Strength Index (RSI) indicates potential upward momentum in the coming days.
Did you like the article? Then like, repost, subscribe and wait for new news. Sincerely, your Mr GAG
