Meme Coin Analysis: Shiba Inu (SHIB) Faces Resistance After 12% Price Rise

Thursday, 26 September 2024, 15:00

Altcoin analysis shows Shiba Inu (SHIB) has surged 12%, with cautious whale activity impacting its momentum. The meme coin's 7-day MVRV indicates profitability, but resistance ahead could limit gains. Investors should watch the whale movements closely as these may foreshadow market shifts.
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Meme Coin Analysis: Shiba Inu (SHIB) Faces Resistance After 12% Price Rise

Altcoin Analysis: Shiba Inu (SHIB) Price Movement

Shiba Inu (SHIB) has recently experienced a 12% price surge, with its 7-day Market Value to Realized Value (MVRV) ratio rising sharply from 3.1% to 9.57%. This significant jump suggests that many holders are seeing profits.

Meme Coin Analysis: Whale Activity and Price Prediction

While whales are cautiously accumulating SHIB, their activity has not been as aggressive as in previous periods, causing some market uncertainty. The cautious stance of whales indicates a potential lack of confidence in sustaining the recent price increase.

  • Resistance Levels: SHIB faces strong resistance around $0.0001763 and $0.0001846.
  • Support Levels: Critical support could be tested at $0.00015 and $0.00013 if momentum shifts.

In conclusion, if SHIB can break these resistance levels, it might see further upward movement. Conversely, continued pressure from the MVRV ratio and cautious whale behavior could signal potential corrections ahead.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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