Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Considering the trajectory of the token's price, the 435 trillion Shiba Inu cluster has substantial potential. Based on the on-chain data the most active addresses hold SHIB between $0.000016 and $0.000017 and the cluster forms around this narrow range.
Understanding how the price might move in the near future depends on recognizing that this small concentration of addresses makes up more than 71% of the entire Shiba Inu supply. Over 50% of SHIB holders are still in the money at the current price, according to the profitability cluster.
That means a lot of investors could profit if the price increases even slightly from where it is now. The desire of these holders to lock in gains by driving the price higher could result in further buying pressure. In the event that a sizable portion of investors choose to cash out there is a risk of price stagnation due to the significant concentration at this specific range.
Arman ShirinyanPositively a high transaction volume (beyond 5% bullish) may indicate institutional or whale activity, which could support SHIB's price in the near future. Major transaction activity like this frequently comes before a breakout or a change in the mood of the market. Furthermore, according to on-chain data, 73% of SHIB is held by a small number of powerful investors.
Depending on their actions, this could either increase or decrease price volatility. It might give SHIB the support it needs to test higher resistance levels if these big investors stick with their positions or raise their stakes.
Alex Dovbnya
Vladislav Sopov
Dan Burgin