Shiba Inu Signals Potential Growth with Whale Movements and Technical Indicators – BitRss

Shiba Inu (SHIB) is attracting attention as projections indicate a 260% increase in the coming months. This meme-based cryptocurrency has shown signs of recovery, despite losing over 37% of its value since peaking in December. Whale movements and technical indicators present promising signals for SHIB investors.

Whale Movements and Technical Signals Indicate an Upswing

In recent weeks, Shiba Inu’s price has been trapped in a narrow trading range, fluctuating between $0.00002100 and $0.00002300. During this period, a whale withdrew $4.63 million worth of 220 billion SHIB from Binance. Analysts suggest that this significant movement could be a bullish signal for price appreciation.

Another noteworthy factor in technical analysis is the cryptocurrency’s price breaking through a resistance line and subsequently retesting it as support. Analyst Javon Marks highlighted the presence of “hidden bullish divergence” in the price chart, where price forms higher lows with lower lows in momentum indicators. Marks states, “Shiba Inu continues to stay above the breakout zone, which is a positive indicator for potential growth.”