Shibu Inu Price Prediction as SHIB Spikes Up 2% – Time to Buy?
The Shiba Inu price has bounced by 2% today, rising to $0.00003305 as the cryptocurrency market as a whole barely moves in the past 24 hours.
SHIB has now risen by 3.5% in the past week and by a whopping 240% in the last 30 days, making it one of the best-performing top-20 coins over this period.
The coin could see further gains in the coming weeks, as the Bitcoin-focused bull market gives way to a more fully blown alt season.
And given that SHIB has some of the best fundamentals of any meme coin, it could really clean up.
SHIB’s chart continues to occupy a promising position, with its indicators all showing that it continues to hold onto significant momentum.
Its 30-day moving average (yellow) is far outpacing its 200-day average (blue) at the minute, while the fact that its current price is outstripping both shows that it has recently entered a full-on growth phase.
Likewise, SHIB’s relative strength index (purple) is creeping up again after falling from 90 to 70 in the past week, a sign that momentum very much remains with buyers.
Having said that, it does seem that some whales have been preparing to take profits.
A $SHIB SmartMoney deposited 200B $SHIB($6.5M) to #Gemini and #Cryptocom to take profits.
This SmartMoney spent only 10 $ETH($3,793) to buy 15.27T $SHIB($496M currently) in 2020.
He currently holds 2.6T $SHIB($84.4M) and the total profit is ~$127M!https://t.co/BWxcnWuwFR pic.twitter.com/0n0J3M20aV
— Lookonchain (@lookonchain) March 12, 2024
Regardless, the Shiba Inu price will resume rising after any near-term dips, with the overall market remaining in an excitingly bullish state, helped largely by Bitcoin ETF volumes and the upcoming Bitcoin halving.
There remains a chance that prices will rise across the board up
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