Shiba Inu Eyes $0.000028 With Growing Support From Short-Term Holders 🐕
Shiba Inu has experienced a 32% price surge, reaching $0.000017, mainly driven by short-term holders increasing their coin holdings by 20% over the last month. Their buying activities significantly affected the price rally.
The sustainability of this rally is in question as short-term holders are known for quick selling when market conditions change. This could affect SHIB's upward trajectory despite the positive daily active address (DAA) divergence, a bullish signal suggesting growing interest.
Unlike short-term holders, long-term holders have reduced their coin holdings by 0.35%, indicating profit-taking actions recently. This behavior contrasts with the short-term holders' bullish conduct.
If short-term holders begin to sell, SHIB may lose its recent gains, potentially falling to $0.000012. If support fails, it could drop to $0.000010, indicating significant risk despite recent gains.
A positive shift in sentiment from long-term holders, however, could lead to further growth, propelling SHIB towards $0.000028. Thus, long-term holders' behavior remains crucial for future price movements.
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