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Shiba Inu (SHIB) Suddenly Turns Green as Price Approaches "Trigger Point"

Sat, 02/11/2023 - 10:09
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Tomiwabold Olajide
Shiba Inu (SHIB) hits "trigger point"
Shiba Inu (SHIB) Suddenly Turns Green as Price Approaches "Trigger Point"
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After hitting lows of $0.0000117 on Feb. 9, Shiba Inu was able to close in the green on Feb. 10 as buyers scrambled for the dip.

The SHIB price printed a green candle on Friday, with its price reaching intraday highs of $0.00001336. This is significant, as most cryptocurrencies persisted in their declines. The $0.0000115 to $0.0000127 range has served as a "trigger point" for the SHIB price on at least two occasions, in August and October 2022.

At the time of writing, some of these gains had eased, and SHIB was now trading up 1.12% at $0.00001255.

According to WhaleStats data, Shiba Inu was among the top 10 purchased tokens among the 100 biggest ETH whales in the last 24 hours.

Shiba Inu retained the biggest token position by dollar value as investors considered its upcoming announcements, especially regarding the Layer 2 Shibarium.

Shiba Inu (SHIB) Might Gain 54% to Upside If This Pattern Plays Out

The average SHIB balance and value of the holdings of the top 100 Shiba Inu holders tracked by WhaleStats are up 0.126% and 3.65% in the last 24 hours, respectively. Considering that these top holders own billions of tokens, the slight increase in their balance might be worthwhile.

Also, the number of active addresses is up 7.14% for these holders. Along these lines, the total number of Shiba Inu holders has crossed a new milestone, reaching 1,302,910, according to WhaleStats data.

Out of this number, a larger majority, or 64%, are long-term holders, or "hodlers," which is a sign of positivity.

SHIB records new listing

Stakecube, a German-based centralized exchange, has listed Shiba Inu (SHIB). The exchange made this known in a Twitter announcement.

Shiba Inu (SHIB) Added to Verifiable Assets on Binance: Details

"SHIB is now listed, and trading pairs will be available soon," the exchange wrote. Swapzone, an on-custodial cryptocurrency exchange aggregator, announced support for all three Shiba Inu ecosystem tokens — SHIB, BONE and LEASH — this week.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.