In recent days, Shiba Inu (SHIB) cryptocurrency has shown consistent price growth, linked to increased activity among major investors. This material analyzes the main trends and forecasts for the future.
Price Surge of Shiba Inu
Shiba Inu (SHIB) has risen nearly 3% in the past 24 hours and has experienced a 16% increase weekly. On July 16, the price reached an almost seven-week high of $0.00001484, outperforming Bitcoin this month with over a 25% increase compared to Bitcoin's 10% gain.
Whale Activity
According to IntoTheBlock, inflow of SHIB to large holders surged from 245.01 billion SHIB on July 13 to 973.1 billion SHIB on July 16, marking an increase of 728 billion SHIB in just three days. This indicates that whales are either making significant purchases or reallocating assets. While large inflows do not always lead to immediate price spikes, they often reflect increased confidence among large investors.
Future of Shiba Inu
SHIB has successfully reclaimed its market valuation threshold of $8 billion, now standing at $8.39 billion. With rising expectations for AI-focused activities within the Shiba Inu ecosystem, current trends could herald a new growth phase. The current relative strength index for SHIB is at 70, commonly viewed as an overbought level, indicating increasing upward momentum.
Shiba Inu displays positive growth signals, linked to whale activity and increasing ecosystem expectations. If this trend persists, further price growth is likely.
