Shiba Inu (SHIB ($0.00)) has recently gained attention by demonstrating remarkable performance, becoming a focal point in the meme coin market. Despite the volatile trading environment in the cryptocurrency market, SHIB’s on-chain data and technical analyses suggest that this digital asset may enter a bullish trend soon. Investors are feeling hopeful again following a recent 6% price increase.
On-Chain Data and Market Indicators for Shiba Inu
Recent activity in the cryptocurrency market has increased interest in meme coins like SHIB. According to data from Santiment, there has been a significant decrease in the exchange supply of Shiba Inu. This indicates that investors are withdrawing their funds from exchanges and adopting long-term holding strategies. This reduction in exchange supply is considered a development that could positively impact SHIB’s price.
Whale activity is also noteworthy. Large investors have recently intensified their activities concerning Shiba Inu. Data shows a noticeable increase in large-scale transactions related to SHIB. This activity suggests a rising interest in Shiba Inu an...
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