Analyst GehavianGoals predicts that Shiba Inu (SHIB) will maintain its price increase, with a recovery from significant resistance levels and strong market activity.
Meanwhile, SHIB's price has experienced significant fluctuations, with strong growth after July 12.
This memecoin has seen an increase from the bottom of $0.0000129 to $0.0000146 and is currently trading around $0.00001458, up 8.6% over the past week.
With this positive performance, analysts believe Shiba Inu may continue its price increase in the coming weeks.
SHIB price movements and analyst predictions
SHIB's recent price surge has attracted the attention of many analysts, with GehavianGoals expressing confidence in the token's continued growth.
The analyst believes Shiba Inu will soon 'fly high,' with a price target set at a new peak.
The analyst points out that the token's recovery from significant resistance levels on the weekly chart is the main catalyst for the recent growth.
The fact that SHIB has tested and rejected lower price levels multiple times further strengthens its sustainable growth.
Notably, the continuous testing of the support level at $0.000011 without slipping below this level reflects resilience.
After bouncing off the support level, SHIB continues to challenge the resistance threshold since December 2024, although only briefly.
However, with each retest of the support level, the price has bounced back, a key characteristic and condition of a bull market.
GehavianGoals' analysis indicates that the next price surge could target a 21-month high, estimating a potential price of $0.00003352.
Increased network activity
Another important factor supporting Shiba Inu's price increase is the growing level of activity on the network of this token.
According to recent data from IntoTheBlock, user interaction with the SHIB network has increased significantly. Specifically, the number of new active addresses (New Active Addresses – NA) has risen by 39.95%, indicating growing attention to Shiba Inu and an increasing number of users interacting with this token.
Additionally, the number of active addresses (Active Addresses – AA) has also increased by 35.07%, further reinforcing evidence of the growing participation of users in the SHIB ecosystem.
However, not all indicators are straightforward to interpret. The number of zero balance addresses (Zero Balance Addresses – ZBA) has also increased by 38.90%.
Although it may seem perplexing, this increase could indicate that users are continuously moving assets in and out of wallets, or that SHIB tokens are being used more frequently in transactions or decentralized applications.
Long-term investor behavior and positive signals
In the report on July 16, data showed that long-term SHIB investors remain confident and are not in a hurry to sell off.
The 'Age Consumed' index, reflecting the amount of old tokens being transferred, remains low – which is seen as a positive signal, indicating that long-term holders have no intention of exiting the market.
In the past, whenever this index surged, it often indicated a new price peak – as occurred at the end of 2024. The current absence of any spikes shows that long-term investors remain confident in SHIB's prospects.
In other words, long-term holders continue to hold due to expectations that prices will rise further. This sentiment is contributing to the positive trend around $SHIB .
If these investors continue to hold their positions in the coming time, it is highly likely that SHIB's upward momentum will be strengthened and extended further.
