Several key indicators are flashing green, supporting a bullish Shiba Inu price prediction as altcoin season gains momentum.
With Ethereum (ETH) holding strong above the $4,000 mark, meme coins tied to its ecosystem are getting a boost.
As the second-largest meme coin, SHIB is well-positioned to ride Ethereum’s upward trend and attract renewed attention from traders looking for the next big move.
Data from CryptoQuant shows that transaction volumes have been increasing while active addresses on the Shiba Inu blockchain have continued to rise.
In addition, exchange netflows, a metric that indicates the amount of tokens flowing in or out of exchanges, has turned negative. This means that investors are withdrawing SHIB to cold storage – a move that is commonly interpreted as a bullish signal.
These positive on-chain metrics could be an early indication that investors are jumping back on the market to scoop up SHIB at this lower price.
Shiba Inu Price Prediction: SHIB ETF Could Ignite Rally to $0.000021
In the past 7 days, Shiba Inu has retreated by 3% as the crypto market as a whole has taken a breather.
SHIB has once again found strong support at $0.000012 and could soon bounce off this level to retest its trend line resistance and the 200-day exponential moving average (EMA).
Trading volumes have subsided lately, meaning that the selling pressure could be easing. Moreover, growing institutional adoption could result in the launch of a Shiba Inu exchange-traded fund (ETF) soon.
A bullish breakout above $0.000015 could set off a rally toward $0.000021, with above-average trading volumes confirming such a move.
New projects have outperformed legacy meme coins during this cycle, and Maxi Doge ($MAXI) could be one of those hidden gems that is ready to explode.
This top crypto presale has raised nearly $3 million in a heartbeat to build a strong community of like-minded degen traders.
Maxi Doge ($MAXI) Combines the Power of Meme Culture with High-Leverage Trading
Maxi Doge ($MAXI) is a meme coin that connects retail traders who aren’t afraid to trade at 1000x leverage to seize the moment and make the most out of this bull market.
Token holders can share alpha, compete to make it to the top of the leaderboard, and access strategies typically reserved for whales.
Weekly competitions reward top ROI hunters, while gamified challenges like Max Ripped and Max Gains will keep the community engaged through attractive and highly rewarding challenges.
Finally, the Maxi Fund allocates up to 25% of the presale’s proceeds on the most promising tokens of this cycle with leverage to boost returns. The earnings from this fund will be used to further promote $MAXI and push the token to the top.
To buy $MAXI and join the pump, head to the Maxi Doge official website and link up your Ethereum-compatible wallet (e.g. Best Wallet).
You can swap USDT or ETH to buy your first tokens or use a bank card instead.
Buy $MAXI Here.
The post Shiba Inu Price Prediction: Shocking Hidden Data Shows SHIB Might Be Stronger Than It Looks – Should You Get In Now? appeared first on Cryptonews.
