SHIB Eyes $0.000030 Again—Is Another Rally Loading?
Shiba Inu's exchange reserves are at a record low, the lowest since 2023, bode well for the top meme currency. Based on this, SHIB may shortly stage a parabolic rally.
Shiba Inu Exchange Reserves Fallest Since 2023
CryptoQuant shows Shiba Inu's exchange reserves at their lowest since January 2023. This statistic measures SHIB in crypto exchange wallets. Therefore, the decline in these reserves shows that whales have been accumulating coins in cold storage for long-term keeping.
A price rise might follow, sending Shiba Inu to new highs. As exchange reserves fell in 2023, SHIB saw a God candle, sending its price over $0.00003. Meme coin rose from $0.000007.
IntoTheBlock data suggests Shiba Inu whales are again stockpiling SHIB, which might fuel this surge as demand exceeds supply. After falling below $0.000010 in June, SHIB's greatest transactions have slowly increased over the previous week.
Shiba Inu and Bitcoin have a 0.92 correlation, showing a significant positive link. As the top crypto hits fresh ATHs, the meme coin may rise. As it rebounds toward $0.000020, BTC may help SHIB retain its momentum by reclaiming $120,000.
SHIB May Rise to $0.000030
Following a bullish divergence, SHIB is likely to hit $0.000032 in the immediate term, according to verified data. This rise is above 135% and might start a positive turnaround, the expert said.
The expert previously reported that Shiba Inu's Moving Average Convergence Divergence was optimistic. Marks said that this might push the meme currency back to $0.000032 by 180%. Meanwhile, crypto analyst Investing Haven verified that the top meme coin's aims of $0.000044 to $0.000066 remain legitimate.
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