Shiba Inu (SHIB) Price Fluctuations

Shiba Inu (SHIB) has experienced fluctuations in price, but analysts suggest a major rally could be approaching.

Recent market data and expert opinions indicate that despite bearish trends, SHIB has the potential for a notable upward movement. Shiba Inu has seen changes in whale activity, investor distribution, and technical patterns contributing to a price surge.

Shiba Inu Whale Activity and Market Influence

Data from Glassnode shows that early SHIB holders accumulated over 20% of the total supply at low prices before selling at market peaks.

This selling activity contributed to corrections in SHIB’s price, emphasizing the influence of large holders on the token’s volatility.

Currently, the concentration of whale activity has reduced, leading to large holders controlling only 15.76% of the total SHIB. This represents a significant shift, as more retail investors are now taking positions.

The flows have recently been negative, implying that some big holders are reallocating funds. However, whales still own about 74% of SHIB tokens, indicating that substantial transactions can significantly impact the price.

Traditionally, SHIB has shown a trend where accumulation by whales can trigger price increases, influencing future investor sentiment.

Analyst Predictions and Technical Signals

Crypto analysts are divided on SHIB’s future, but some predict a substantial rally.

CryptoElites, a market analyst, suggested that SHIB has the potential for a 17x price increase. This expectation is rooted in historical price trends and technical indicators that suggest SHIB may be in a long-term accumulation phase.

Javon Marks, another crypto analyst, has set a bullish price target for SHIB at $0.000081, representing a 500% increase from current levels. Marks notes that SHIB has already broken through key resistance zones, signaling potential for further price increases. He stated, “The breakout target at $0.000081 remains unchanged! As SHIB sustains its bullish momentum and uptrend, the possibility of a massive 500% upside remains well in play.”

Market correlation data shows that SHIB’s price movements have a 0.84 correlation with Bitcoin, suggesting that if Bitcoin enters a bullish phase, SHIB may experience similar momentum.

Long-Term Holders and Market Sentiment

Approximately 58% of SHIB holders have remained committed despite current price challenges. A study indicates that 76% of all SHIB token holders have not sold in the past year, demonstrating strong bullish sentiment among these investors.

Additionally, 22% have held SHIB for between one and twelve months, while only 2% have held for less than one month. This portfolio distribution indicates that many SHIB tokens will likely remain actively held and not sold during market volatility.

The current profit and loss distribution reveals that 37% of holders are in a profit zone, 4% are at breakeven, and 59% are currently facing losses. The significant percentage of holders at a loss may indicate low selling rates, suggesting many investors prefer to hold until prices rise.

In the past week, daily transactions above $100K have amounted to $151.03 million, indicating that large investors continue to engage actively in SHIB trading.