Shiba Inu (SHIB) is showing signs of growth due to a significant increase in large holder inflows over the past month.
Surge in Large Holder Inflows
The number of large holders of Shiba Inu has surged by 643% in the past 30 days. This reflects broader investor confidence in the short- to mid-term trajectory of the asset.
Current Market Technicals
Technically, SHIB is testing resistance levels at $0.0001400 while remaining above important moving averages. A break above this level could lead to an approach of the more critical area at $0.00001600.
Future Prospects and Risks
The RSI is currently close to 70, indicating potential overbought conditions. However, this is also typical during strong uptrends. Maintaining levels above $0.000014 will be critical for further upward movement.
In the current scenario, Shiba Inu may exhibit significant growth driven by the actions of large investors; however, traders should remain prepared for potential market changes.