Shiba Inu (SHIB) has shown resilience during the past 30 days despite enduring bearish trends, with 123.27 trillion SHIB remaining in profit.
SHIB investors hold strong amid bearish trends
The volume of SHIB 'in the money' is valued at approximately $1.54 billion, highlighting that the meme coin has retained activity in spite of the market slump. However, trading volume has plummeted by 19.80% to $143.11 million as investors refrain from active purchases. SHIB has found support at $0.000012 in recent days, potentially due to community efforts to reduce circulating tokens via burning mechanisms. Notably, over the past 24 hours, the burn rate has soared by 495%, with more than 14 million tokens removed.
Could growing adoption fuel SHIB’s next move?
Market watchers posit that SHIB may experience an upward surge due to investor interest. A dormant Ethereum whale recently acquired over 64 billion SHIB tokens, which analysts see as a bullish signal, as large investors typically invest in assets with growth potential. Additionally, the Shiba Inu blockchain recently surpassed 1.5 million holders, indicating rising recognition and sustained investor interest.
The future of SHIB: Analysts’ predictions
Some observers suggest that the combination of an increasing number of holders and large investor interest could trigger the next Shiba Inu rally. Nevertheless, the market still faces uncertain factors, and the next developments will heavily rely on the overall sentiment within the crypto sphere.
Amidst bearish trends, SHIB continues to hold its ground with community support and large investor interest. The potential for sustained growth lies ahead.
