Shiba Inu, the popular meme coin, has been struggling to regain bullish momentum in the cryptocurrency market. Despite limited recovery efforts, the price of SHIB remains below its previous highs, indicating a lack of significant price movement. However, an analyst has suggested that 2025 could bring about significant growth for Shiba Inu, potentially leading the coin towards a new all-time high.
One of the reasons for potential bullish prospects for Shiba Inu is the activity of whales in the market. Whales, or addresses holding at least 0.1% of SHIB’s supply, have recently purchased a significant amount of the coin, totaling 2.79 trillion SHIB worth over $60 million within 24 hours. This accumulation by large holders signals renewed interest and anticipation of a potential price increase, strengthening Shiba Inu’s position in the market.
The recent whale activity is not an isolated event, as similar large-scale purchases have been observed throughout the month. This trend suggests that major players in the market are preparing for a future breakout, indicating confidence in SHIB’s upward trajectory. Additionally, the macro momentum of Shiba Inu shows a potential shift in its trend, with the Average Directional Index (ADX) indicating that the ongoing bearish trend is losing strength, potentially paving the way for a recovery in SHIB’s price.
Despite facing resistance at $0.00002341, preventing it from recovering recent losses, Shiba Inu’s price prediction suggests a breakout is likely. With ongoing whale activity and bullish market sentiment, SHIB could breach the resistance level around $0.00002606 and aim for a target of $0.00003306, which stands 50% above the current price. However, failing to breach key resistance levels could result in SHIB consolidating at lower levels, highlighting the importance of support and resistance levels for its recovery.
In conclusion, Shiba Inu’s price analysis indicates potential bullish prospects for the meme coin in the cryptocurrency market. With increased whale activity, weakening bearish momentum, and positive market sentiment, SHIB could be on track for a breakout and potential price increase in the near future. It is important for investors to conduct their own research and consult with a professional before making any financial decisions regarding Shiba Inu or any other cryptocurrency.
