Shiba Inu’s Latest Saga: Will It Rise or Just Bark at the Moon?

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While Bitcoin’s been strutting around, grinning at all-time highs, our dear Shiba Inu seems content to warm up its paws. Over the past 24 hours, it’s gained nearly 4%, as if it’s trying on a new fur coat, joining the grand market parade. Over a week, the gains look even fancier – about 15%. Quite the tail-wagging performance, don’t you think? 🐶

But hold your squeaky toys – if you’re dreaming of even bigger treats, don’t be too quick to dismiss SHIB. The little pup just broke out of a bullish symmetrical triangle, which sounds fancy but mostly means it finally decided to stand up straight. Still, the on-chain signals are about as clear as a muddy puddle – they’re throwing mixed messages, like your uncle at a family reunion, suggesting prices could do a loop-de-loop depending on which side wins the tug-of-war.

Exchange Supply Shrinks: Bulls Got Room to Bark?

When our furry friend busts out of a bullish pattern, the first thing to look at is exchange reserves. It’s almost as revealing as that mystery meat in the fridge – you know, the one that’s been there so long you forget what it was.

For SHIB, July 31 saw 122.54 trillion tokens in reserve. By August 11, it was down to 121.31 trillion – about a 1% dip. Imagine that: less supply hanging around, with fewer tokens ready to jump on the market’s back. Fewer sell-offs make the paw-ty more promising for the bulls to keep their tail wagging.

And wouldn’t you know it, right after August 11, SHIB started its little dance upwards. Earlier this month, similar moves happened around July 24 and August 6 – like a dog chasing its tail, all trending here and there.

But watch out! As the price hopped, exchange reserves took a tiny step back up, like the dog realizing maybe it’s not such a good idea to chase every squirrel. Which means careful monitoring is needed – this game’s got more twists than a soap opera plot.

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The Spent Coin Age Bands: Old Coins Moving – Uh-oh, Trouble?

Now, here’s where things get interesting (and slightly suspicious). The Spent Coin Age Bands show when those ancient, ‘been-around-the-block’ coins start moving again – often a sign long-term holders are cashing out their Advil funds. Sounds just like your grandma’s secret stash, right? 🤨

Back in early August, this indicator hit a multi-week low – kind of like when your favorite snack disappeared from the jar. Now, it’s climbed back to levels last seen on July 24, right before the market did its little correction dance. This could mean those wise old coins are shifting, and that might spoil the rally’s party.

Whenever these old coins make a splash, history suggests a price correction might follow – like a dog eating way too much at dinner and then feeling sleepy. Definitely something traders need to keep an eye on, lest they get caught with their paws down.

So, the big question: Is SHIB about to take a leap or just bark at shadows? The price’s battleground is set, with bulls and bears growling at each other. Trading above $0.00001368 looks promising, but crossing $0.00001438 would really put some extra wiggle into the tail.

Next hurdles are at $0.00001469 and $0.00001518. If the momentum keeps up, we might see a sprint to $0.00001599 – a number that sounds as absurd as a cat playing the piano, but hey, dreams do come true.

Despite the tug-of-war between supply signals and old coins moving, the bullish energy from the Bull-Bear Indicator might just give the rally a little extra breath. Or not. It’s a gamble, like betting on a coin flip while juggling puppies.

And if things go south? Well, a dip below $0.00001318 and $0.00001224 could give bears a chance to snatch back control – so better keep those eyes peeled, or the little pup might end up on a short leash.

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2025-08-14 12:23