Shiba Inu (SHIB) price prediction: This $230M Signal could flip the charts
Key Points:
• Shiba Inu (SHIB) price continues to hold firmly above the $0.00003 support level on March 14, despite waning market demand for memecoins this week.
• SHIB holders have shifted 7 trillion SHIB worth $230 million into long-term storage this week.
• Declining selling pressure could flip the charts, propel SHIB into a decisive breakout above $0.00004.
Price insights:
Shiba Inu price has fiercely defended the $0.000030 support, trading as high as $0.0000033 on March 13, 2024. Despite weakening demand across the memecoin markets this week, SHIB holders are increasingly reluctant to sell.
Can the curtailed selling pressure drive SHIB price into another parabolic rally above $0.00004?
Investors transferred 7 trillion SHIB into long-term storage in March 2024
Despite weakening demand for memecoins this week, Shiba Inu price has avoided a major pullback this week. The SHIB meme token is currently exchanging hands at $0.000034, some distance above its 8-day Exponential Moving Average (EMA-8) price of $0.000032.
On-chain data shows that curtailed selling pressure among existing Shiba Inu holders is a key catalyst for SHIB price maintaining momentum this week, as rival memecoins like PEPE and BONK slid down the top gainers charts.
CryptoQuant exchange reserves chart below monitors real-time changes in the number of tokens that investors have deposited in trading wallets hosted crypto exchanges.
Read More: https://www.fxempire.com/forecasts/article/shiba-inu-shib-price-prediction-this-230m-signal-could-flip-the-charts-1416314
Key Points:
• Shiba Inu (SHIB) price continues to hold firmly above the $0.00003 support level on March 14, despite waning market demand for memecoins this week.
• SHIB holders have shifted 7 trillion SHIB worth $230 million into long-term storage this week.
• Declining selling pressure could flip the charts, propel SHIB into a decisive breakout above $0.00004.
Price insights:
Shiba Inu price has fiercely defended the $0.000030 support, trading as high as $0.0000033 on March 13, 2024. Despite weakening demand across the memecoin markets this week, SHIB holders are increasingly reluctant to sell.
Can the curtailed selling pressure drive SHIB price into another parabolic rally above $0.00004?
Investors transferred 7 trillion SHIB into long-term storage in March 2024
Despite weakening demand for memecoins this week, Shiba Inu price has avoided a major pullback this week. The SHIB meme token is currently exchanging hands at $0.000034, some distance above its 8-day Exponential Moving Average (EMA-8) price of $0.000032.
On-chain data shows that curtailed selling pressure among existing Shiba Inu holders is a key catalyst for SHIB price maintaining momentum this week, as rival memecoins like PEPE and BONK slid down the top gainers charts.
CryptoQuant exchange reserves chart below monitors real-time changes in the number of tokens that investors have deposited in trading wallets hosted crypto exchanges.
Read More: https://www.fxempire.com/forecasts/article/shiba-inu-shib-price-prediction-this-230m-signal-could-flip-the-charts-1416314
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1 comments
Gee I wish those physical SHIB coins looked more like a DOG and less like a HOG! Yep, -that image looks like pig, not the canine...