As a seasoned researcher who has navigated through countless market cycles, I find myself intrigued by the resilience and optimism of Shiba Inu (SHIB) investors. Despite the token’s current struggle to break past key resistance levels, it’s clear that investor confidence remains unshaken. The ongoing accumulation of SHIB, with holders purchasing tokens even at stagnant prices, speaks volumes about their belief in the coin’s future potential.
Recently, Shiba Inu (SHIB) has exhibited notable price fluctuations, yet it hasn’t been able to surmount a key resistance point. However, investor faith in this coin remains steady, even without major price increases.
This trend is evident in the persistent buying of SHIB by its holders, as they continue to acquire the token, even though its value remains stationary.
Shiba Inu Investors See Profits
For the last five days, there’s been a huge decrease of approximately 4 trillion Shiba Inu tokens from exchanges, which equates to over $115 million at present prices. This substantial decrease in accessible supply indicates that investors are actively hoarding the coin, implying a strong belief that its value will significantly increase in the future.
Regardless of the meme coin failing to surpass crucial resistance points so far, its supporters continue to be undaunted. Investors are demonstrating tenacity, anticipating potential market scenarios that could help SHIB break free from its current standstill. The consistent accumulation suggests optimism, especially considering the ongoing market conditions, which have yet to produce significant, sustained price increases.
The positive trend for Shiba Inu is growing more optimistic, mainly due to the activities of long-term investors (LTI). These investors usually keep their coins for more than a year, offering stability and minimizing market fluctuations. At present, LTIs own about 74% of all circulating SHIB tokens, a statistic that underscores their firm confidence in the coin’s future.
A large amount of Shiba Inu tokens being held for a long time indicates the token’s stability, implying that a considerable part of the market remains unaffected by short-term price swings and instead focuses on the coin’s future prospects.
SHIB Price Prediction: Resistance Ahead
As I analyze the current market trends, it appears that the Shiba Inu’s price is encountering a significant barrier around $0.00002976. My prediction is that the altcoin is gearing up to surpass this level, which could help in mitigating the approximately 15% losses it has experienced this week.
Should the momentum continue, Shiba Inu (SHIB) may reclaim its spot and aim for the next resistance level around 0.00003306 USD. Such a move would represent a substantial comeback for the meme cryptocurrency.
Based on the current market mood and behavior of long-term investors, there’s a possibility that Shiba Inu might exceed $0.00003306. If it does, this coin could experience additional growth, potentially reaching $0.00003515. Such a move would suggest growing investor optimism and a more prolonged upward trajectory for SHIB in the immediate future.
If SHIB can’t overcome its resistance at approximately $0.00002976, there’s a possibility it could experience a bearish turnaround. Should the price drop below this point, the altcoin might slide down to about $0.00002606. If SHIB dips beneath this level, it would weaken the bullish prediction, suggesting a more significant correction and prolonged losses for Shiba Inu.
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2024-12-12 19:36