Shiba Inu has experienced a significant 65% increase this month, bringing optimism among investors. Despite facing resistance on its upward trajectory, the meme coin shows potential to break through critical resistance levels.
Long-Term Holders Take Control
The MVRV Long/Short Difference metric highlights a positive shift: long-term holders (LTH) of Shiba Inu are in profit for the first time in four months. Since July, short-term holders (STH) have dominated the market, realizing profits and putting downward pressure on the price, creating a bearish environment.
Unlike STH, LTH are known for their "HODLing" behavior, often holding their assets for over 12 months. This reduces selling pressure and provides price stability. The return of LTH profitability could stabilize SHIB and support future price growth.
Transaction Volume Trends Could Shift
Recently, transaction volumes have been dominated by trades at a loss, raising concerns among investors. However, the stabilization of SHIB’s price could reverse this trend, with profitable trades beginning to outpace losses.
Stable prices typically boost investor confidence, encouraging more profitable transactions. This shift in momentum indicates a favorable outlook for SHIB, provided that consolidation continues.
SHIB Price Prediction: Key Support and Resistance Levels
Shiba Inu is currently trading at $0.00002503, maintaining support at $0.00002267. The meme coin is now targeting the key resistance level of $0.00002976.
Consolidation within this price range could help SHIB build enough momentum for another rally. Favorable market conditions would further enhance this possibility.
On the downside, losing support at $0.00002267 could lead to a drop to $0.00002093, invalidating the bullish thesis and potentially lowering investor sentiment.
Summary
Shiba Inu has seen significant growth, with long-term holders turning profitable for the first time in months. While the meme coin faces challenges, price stabilization and the return of profitability could provide the foundation for further growth. Breaking through key resistance levels remains crucial for SHIB’s long-term success.
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