Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The Shiba Inu price has rebounded towards $0.00003, which has put most of the SHIB holders back in the green. This is significant, considering how it could set Shiba Inu on a path to higher prices.\u00a0 Most SHIB Holders In The Green As Shiba Inu Price Rebounds IntoTheBlock data shows that most SHIB holders are in the green as the Shiba Inu price rebounds towards $0.00003. 69% of these SHIB holders are now in the money, while 24% are out of the money, and 6% are currently in the money. This could be bullish for the Shiba Inu price, considering that holders are less likely to sell when they are in the money.\u00a0 Related Reading: XRP Price Prediction: Last Phase Of ABC Wave Points To A Bounce To New ATH At $5.85 This could reduce the selling pressure on SHIB and sustain the Shiba Inu price recovery. The meme coin has recovered towards $0.00003. The \u2018In the Money\u2019 metric shows that the next significant resistance level that Shiba Inu needs to break above is $0.000033. 130,620 wallet addresses bought 15.06 trillion SHIB tokens around this level.\u00a0 However, on-chain metrics still paint a bearish picture for Shiba Inu, which is undoubtedly concerning. IntoTheBlock data shows that the \u2018Concentration\u2019 metric is in the red, indicating that SHIB whales currently have a bearish sentiment towards the meme coin and are opting against accumulating more coins.\u00a0 This large transaction metric is also bearish at the moment as Shiba Inu whales are opting against accumulating more coins. The net network growth also paints a bearish picture for the Shiba Inu price, as there is currently a low influx of new addresses buying the meme coin.\u00a0 The Shiba Inu burn rate has also remained inconsistent, further presenting a bearish outlook for the Shiba Inu price. Shibburn data shows that the burn rate is down over 79% in the last 24 hours, with three million coins burned during this period.\u00a0 From A Technical Analysis Perspective\u00a0 Crypto analyst Javon Marks has provided a bullish outlook for Shiba Inu from a technical analysis perspective. In an X post, he stated that Shiba Inu recently confirmed another bullish pattern, which could lead to a continuation of its upward trend. The analyst added that another major upside move could be in play for SHIB, with the meme coin possibly rallying to $0.00081 or even higher.\u00a0 Related Reading: Weekly Bull Flag Appears On XRP Price Chart, Why A Double-Digit Is Still Feasible The crypto analyst further mentioned that with this target at $0.000081, the Shiba Inu price could witness a 180% climb and that this rally may already be in play. A rally to $0.000081 could pave the way for Shiba Inu to surpass its current all-time high (ATH) of $0.000088.\u00a0 At the time of writing, the Shiba Inu price is trading at around $0.000029, up over 8% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":559387,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83740],"tags":[167,6664,26263,14690,83668,89178,84473,83667,89157,86437,84562,84558],"class_list":["post-661261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-shib","tag-shib-news","tag-shib-price","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-price","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\n
Shiba Inu Price Rebounds Toward $0.00003, Taking 69% Of All Holders Back Into The Green<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n