Shiba Inu (SHIB) Holders Resists Shakeout Despite 11% Price Dip

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As a seasoned crypto investor with a soft spot for Shiba Inu, I find myself encouraged by the recent price action and the resilience of SHIB holders. Having witnessed numerous market downturns, I can attest that the lack of significant sell-offs amidst a 11% drop is indeed an unusual yet reassuring sight.

Over the last seven days, the value of Shiba Inu coins has decreased by 11%, following a general trend of market decline. Contrary to other cryptocurrencies, this drop in price has not led to a chain reaction of sell-offs among those who hold Shiba Inu.

Maintaining a positive outlook, the cryptocurrency could be set for a possible recovery or stabilization in the short-term.

Shiba Inu Investors Keep Faith in the Meme Coin

Historically, when Shiba Inu (SHIB) token holders have struggled to resist selling their tokens, the price tends to plummet substantially, often falling below the latest 11% decline. However, as reported by IntoTheBlock, the average holding period for SHIB coins has been on an upward trend since December 8.

The term “holding time” refers to the duration during which a cryptocurrency remains unsold or untouched in a wallet. An increase in this period implies that owners are choosing not to transfer their digital assets between wallets or cash out, indicating optimism about its potential future value.

Conversely, a decrease in holding duration might indicate a weak belief in the short-term prospects. In such cases, holders may choose to sell some of their assets, thereby putting pressure on the price to fall.

Based on my analysis, it appears that Shiba Inu’s significant increase suggests a bullish trend for the token. If this growth continues, it may contribute to a faster price recuperation process.

Additionally, the Price-User Participation Trend Discrepancy presents a strong indication of a possible Shiba Inu recovery. This measure examines user activity on a blockchain and its relationship with market fluctuations, providing valuable insights into market behavior.

In simpler terms, when there’s a difference between increasing network activity (as indicated by DAA) and a rising price (positive divergence), it usually means prices are going up. On the other hand, when network activity is decreasing (negative divergence) while prices continue to rise, this often indicates bearish trends or falling prices.

As a crypto investor, I’ve been closely monitoring the price-DAA divergence of Shiba Inu (SHIB), and according to Santiment data, it has spiked to 33.65%. This could be a strong indication that SHIB’s price might outperform its current level and potentially reach $0.000027 in the near future. It’s essential to keep a close eye on this trend as it unfolds.

SHIB Price Prediction: Rebound Coming?

Looking at the daily chart, it appears that the Accumulation/Distribution (A/D) indicator is showing an uptick. This A/D indicator serves to gauge if a particular cryptocurrency is being bought up or offloaded by combining volume and price data.

When readings decrease, it signifies that there’s more selling activity than buying interest. Conversely, an increasing A/D ratio suggests growing buying pressure, as seen with SHIB. Yet, for this theory to hold true, bulls must protect the support level at $0.000024.

If such an event transpires, there’s a possibility that SHIB’s value may surge towards 0.000034. But if bears manage to break through the support level, this prediction might not hold true, and instead, Shiba Inu could plummet to 0.000019.

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2024-12-11 14:21