Meme Coin Analysis: Shiba Inu (SHIB) Gains Momentum
Shiba Inu Market Sentiment Sees All-Round Improvement
Data from Santiment shows that SHIB's one-day circulation hit a 10-week high of 5.77 trillion on Thursday, September 26. This spike reflects rising market interest as unique tokens transact more frequently, contrary to a decrease that typically indicates reduced momentum.
Shiba Inu Whale Transactions Signal Bullish Momentum
A significant increase in whale transactions has been observed, with 75 transactions over $100,000 and over 10 surpassing $1 million occurring recently. This heightened activity suggests an imminent price rise that could lift SHIB considerably.
- High social dominance in market sentiment indicates increasing conversation around SHIB, often a precursor to price growth.
- The Bull Bear Power (BBP) is trending positively, showing buyer strength outpacing sellers, reinforcing bullish expectations.
SHIB's recent breakout from a descending triangle pattern signals a potential rally, with price predictions suggesting it could reach $0.000035 soon. However, any significant drop in the Money Flow Index may alter this optimistic scenario.
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.