Shiba Inu (SHIB) Price Analysis and Predictions

Tuesday, 14 May 2024, 11:07
Shiba Inu's price is looking to break free from a two-month downtrend with growing investor confidence. Active deposits are decreasing, indicating strong HODL sentiment among holders. Short-term investors are turning bullish, leading to a positive supply shift towards mid-term holders.
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Shiba Inu (SHIB) Price Analysis and Predictions

Shiba Inu Investors Seem Serious

Shiba Inu's price is currently stuck under a downtrend which it could escape with the help of its investors' conviction. The ongoing drop in active deposits reflects a shift towards HODLing and decreased selling pressure.

Increasing Confidence

  • Conviction Among Holders: Both retail and whale investors show increased confidence in SHIB's potential rally.
  • Active Deposits Decline: A decrease in active addresses moving SHIB to exchanges signals reduced selling intent.
This sentiment is further strengthened by the decline in short-term supply holdings.

Shiba Inu's price might rally if it can surpass key resistance levels and uphold support.

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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