The popular meme coin Shiba Inu has experienced a significant surge in its price, rising by double digits in the last 24 hours alongside a positive performance in the broader crypto market. Recent price data indicates that SHIB has climbed to $0.00001748, effectively recovering most of its losses over the past week.<\/p>\n
This impressive turnaround has sparked excitement and speculation within the meme coin community regarding the future movement of SHIB. On-chain data reveals that large holders have significantly increased the value of their transactions by 229% since July 4, contributing to the newfound price confidence.<\/p>\n
Following a low at $0.00001298 on July 5, Shiba Inu witnessed a sharp rebound, reversing its previous downward trend. This rebound led to a sustained price increase for SHIB throughout Saturday, reflecting a generally positive sentiment among traders, buoyed by rising prices in major cryptocurrencies triggered by Bitcoin.<\/p>\n
Data from IntoTheBlock shows a 190% increase in inflow activity from large SHIB transactions, pushing the total value of transactions worth $100,000 or more to $74.56 million, the highest in the past week. These significant transactions, combined with a 15% price surge, have once again brought Shiba Inu into the spotlight, prompting speculation within the meme coin community about its potential to lead another bullish rally.<\/p>\n
<\/p>\n
The crypto market, particularly for meme coins like SHIB, can be highly volatile. Currently trading at $0.0000165 and down by 3.81% over the past seven days, SHIB is poised on the brink of breaking out of a major downtrend since the start of June.<\/p>\n
A bullish signal was observed on the daily candlestick chart with consecutive green candles on Friday and Saturday, pushing a significant number of SHIB holders back into profitability. Nearly 47% of total addresses are now profitable at the current price level, a substantial increase from the 20.47% recorded on July 5.<\/p>\n
Maintaining the current bullish momentum could potentially drive SHIB to surge 2-3 times in the short term. However, there is a possibility that this upward trend could be temporary before the downtrend resumes.<\/p>\n
For SHIB to sustain its bullish trajectory, the broader cryptocurrency market must shift towards a more positive trend. SHIB’s price may rise in correlation with Bitcoin’s performance if it holds its support levels and Bitcoin surpasses $61,000 in the upcoming week.<\/p>\n
Featured image from Dogster, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" The popular meme coin Shiba Inu has experienced a significant surge in its price, rising by double digits in the last 24 hours alongside a positive performance in the broader crypto market. Recent price data indicates that SHIB has climbed to $0.00001748, effectively recovering most of its losses over the past week. This impressive turnaround […]<\/p>\n","protected":false},"author":1,"featured_media":15277,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Shiba Inu Whales Showing Activity Amid Bitcoin and Crypto Market Recovery - Bitrabo","description":"The popular meme coin Shiba Inu has experienced a significant surge in its price, rising by double digits in the last 24 hours alongside a positive performance"},"footnotes":""},"categories":[316],"tags":[448,504,4905,585,496,1110,691,584,3358,457],"class_list":["post-15276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-crypto","tag-crypto-market","tag-inu","tag-market","tag-move","tag-recover","tag-shiba","tag-shiba-inu","tag-whales"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/15276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=15276"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/15276\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/15277"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=15276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=15276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=15276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}