Shiba Inu (SHIB), the main memecoin, staged a remarkable rally by reaching an intraday high of US$0.00000966 on Saturday morning (11/11/2023). This consolidation is a significant achievement for bulls in the crypto market.
Clearing the daily 200 MA hurdle at US$0.00000805, Shiba Inu gained a strong foothold, fueling speculation that the price could lose a single zero. Bulls set a new target of US$0.00001134, indicating a bullish outlook.
The surge was driven by strong inflows, especially from whales, with a 627 percent increase in large holder inflows. SHIB price responded positively to this surge, rising 13.39 percent to US$0.00000947 in the last 24 hours.
Importantly, Shiba Inu launched The Shib Magazine, the first edition of a weekly publication for the Shibarium ecosystem. The development of a new SHIB wallet and Web3Auth integration strengthens user-friendly crypto management.
Analysis by Rekt Capital highlights a 15 percent surge in SHIB value after retesting support at US$0.0000080. Future rally predictions reach above US$0.00001, but recovery of positions above US$0.0000093 is required.
The rapidly changing crypto market demands attention as Shiba Inu and other digital currencies navigate these dynamic market conditions.
