Is It Time to Buy SHIB? This Analyst Gives His Thoughts
TL;DR
- Influential social media users and traders are hoarding Shiba Inu, citing strong market potential and technical patterns that predict significant price increases.
- Key factors that could trigger the SHIB price increase include the increasing token burn rate, developments in the Shibarium layer-2 solution, and the decrease in token supply on exchanges.
Despite the rapid price increase on a yearly scale, some analysts believe that shiba inu (SHIB) still represents a great buying opportunity. One such person is X user Del Crxpto, who has almost 100,000 followers.
He admitted to accumulating meme money, claiming he knew “what was going to happen” in the future. The analyst was reluctant to share additional details as he did not want to “darken” SHIB relations.
A large number of X users consider the token to be the best meme coin and the biggest There is potential for price increases. On the other sideSome have assumed that SHIB does not have much room for growth, suggesting that other assets of this type might be a better choice.
Another popular The trader who recently placed a purchase order for the Shiba Inu is Ali Martinez. Hey requested The asset’s price trajectory appears to be “forming a bull flag” on the daily chart, raising hopes for a 300% upside.
Rekt Capital and crypto content creator Jake Gagain also summarized bullish forecasts. The former predicted a triple-digit price increase, while the latter argued that the “extinction” of the Shiba Inu was a big mistake.
What Could Trigger the SHIB Bull Run?
One of the important factors that could trigger a Shiba Inu price rise again is the SHIB burn rate. There is metric removed Millions of tokens have been removed from circulation recently.
Another element is the development of Shibarium, meme coin’s layer-2 scaling solution. IT carried out two mother updates recently.
A decrease in the supply of SHIB tokens on crypto exchanges could also be a signal of an impending rise. According to CryptoQuant, Shiba Inu exchange net flows were predominantly negative last week. Sometime shift from centralized platforms to personal surveillance methods It is thought It shows an upward trend as it reduces the immediate selling pressure.
SHIB Exchange Netflow, Source: CryptoQuant
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