- Shiba Inu (SHIB) has surged 11% in five days, driven by a 30% increase in investor holding time, signaling growing confidence and reduced selling pressure.
- Strong technical indicators, including the Balance of Power and Chaikin Money Flow, suggest continued bullish momentum, with a potential rally toward $0.000014.
Shiba Inu (SHIB), one of the most popular meme coins, is showing strong signs of recovery. Over the past five days, SHIB has surged by 11%, bouncing back from a three-month low. This rally has been fueled by increasing investor confidence, reflected in a significant rise in the average holding time of SHIB tokens.
Investor Confidence Grows as Holding Time Increases
One of the key indicators of investor sentiment is how long traders hold onto their assets before selling or transferring them. According to IntoTheBlock, the average holding time for SHIB has risen by 30% in the past week. This is a strong signal that traders are developing more faith in the long-term potential of the cryptocurrency.
A longer holding period reduces selling pressure, creating a more stable price movement and potentially paving the way for further gains. When investors choose to hold rather than sell, it often leads to a more sustainable price increase, as seen in SHIB’s recent performance.
Technical Indicators Support a Bullish Trend
Market indicators are also pointing toward a bullish outlook for Shiba Inu. The Balance of Power (BoP) indicator, which measures buying versus selling pressure, is currently in positive territory at 0.04. This suggests that buyers are in control, reinforcing the possibility of further price appreciation.
Additionally, the Chaikin Money Flow (CMF) indicator is trending upward at 0.08. This indicator tracks the flow of money into and out of an asset, and when positive, it indicates strong buying pressure. The current trend suggests that demand for SHIB is growing, which could drive prices higher in the coming days.
Can SHIB Hit $0.000014?
Given the strong technical signals and rising investor confidence, analysts believe that SHIB’s price could continue its upward momentum. If buying pressure remains high, the meme coin could rally toward $0.000014. However, traders should remain cautious, as a reversal in sentiment could lead to profit-taking and a potential dip back to $0.000010.
Shiba Inu’s recent performance suggests a promising trend for the cryptocurrency. With investors showing greater confidence by holding onto their tokens longer and technical indicators supporting a bullish outlook, SHIB appears to be on a solid recovery path. While price fluctuations are always a possibility, the current market dynamics indicate that Shiba Inu could continue its upward climb in the near term.
