Shiba Inu Price Rebounds Toward $0.00003, Taking 69% Of All Holders Back Into The Green

Name	Symbol	Market	Market Cap ($)	Algorithm
SHIBA INU	SHIBUSD	Crypto	16,499,240,082	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

SHIBA INU

SHIBUSD

Crypto

16,499,240,082

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00000100	3.70%	0.000028	0.000028	0.000028

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00000100

3.70%

0.000028

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.000028	0.000027	0.000027	0.000027	0.00000716 - 0.000048

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.000028

0.000027

0.00000716 - 0.000048

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	14:07:03	174,498.00	0.000028	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

14:07:03

174,498.00

0.000028

USD

Price x Volume	Volume	Base Symbol	Related Pairs
11,056,101.02	34,707,370,772.05	SHIB	SHIBEUR	SHIBGBP	SHIBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

11,056,101.02

34,707,370,772.05

Shiba Inu Price Rebounds Toward $0.00003, Taking 69% Of All Holders Back Into The Green

12/12/2024 11:30pm

NEWSBTC

The Shiba Inu price has rebounded towards $0.00003, which has put most of the SHIB holders back in the green. This is significant, considering how it could set Shiba Inu on a path to higher prices. Most SHIB Holders In The Green As Shiba Inu Price Rebounds IntoTheBlock data shows that most SHIB holders are in the green as the Shiba Inu price rebounds towards $0.00003. 69% of these SHIB holders are now in the money, while 24% are out of the money, and 6% are currently in the money. This could be bullish for the Shiba Inu price, considering that holders are less likely to sell when they are in the money. Related Reading: XRP Price Prediction: Last Phase Of ABC Wave Points To A Bounce To New ATH At $5.85 This could reduce the selling pressure on SHIB and sustain the Shiba Inu price recovery. The meme coin has recovered towards $0.00003. The ‘In the Money’ metric shows that the next significant resistance level that Shiba Inu needs to break above is $0.000033. 130,620 wallet addresses bought 15.06 trillion SHIB tokens around this level. However, on-chain metrics still paint a bearish picture for Shiba Inu, which is undoubtedly concerning. IntoTheBlock data shows that the ‘Concentration’ metric is in the red, indicating that SHIB whales currently have a bearish sentiment towards the meme coin and are opting against accumulating more coins. This large transaction metric is also bearish at the moment as Shiba Inu whales are opting against accumulating more coins. The net network growth also paints a bearish picture for the Shiba Inu price, as there is currently a low influx of new addresses buying the meme coin. The Shiba Inu burn rate has also remained inconsistent, further presenting a bearish outlook for the Shiba Inu price. Shibburn data shows that the burn rate is down over 79% in the last 24 hours, with three million coins burned during this period. From A Technical Analysis Perspective Crypto analyst Javon Marks has provided a bullish outlook for Shiba Inu from a technical analysis perspective. In an X post, he stated that Shiba Inu recently confirmed another bullish pattern, which could lead to a continuation of its upward trend. The analyst added that another major upside move could be in play for SHIB, with the meme coin possibly rallying to $0.00081 or even higher. Related Reading: Weekly Bull Flag Appears On XRP Price Chart, Why A Double-Digit Is Still Feasible The crypto analyst further mentioned that with this target at $0.000081, the Shiba Inu price could witness a 180% climb and that this rally may already be in play. A rally to $0.000081 could pave the way for Shiba Inu to surpass its current all-time high (ATH) of $0.000088. At the time of writing, the Shiba Inu price is trading at around $0.000029, up over 8% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com

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