Recent forecasts suggest a potential 300% increase in the price of Shiba Inu (SHIB), driven by heightened activity from large holders of the cryptocurrency. This rise in whale transactions bodes well for the second-most valuable meme coin in the market, indicating that a bullish rally could be on the horizon.
What Factors Support a 300% Price Increase?
Insights shared by market expert Javon Marks on social media point to a confirmed Hidden Bullish Divergence for Shiba Inu, indicating impending upward movement. He anticipates SHIB could target a price level of $0.000081, a milestone that could allow it to outshine its previous record highs.
Are Whales Driving Shiba Inu’s Momentum?
The surge in whale activity is notable, with recent data revealing a nearly 4% increase in large transactions involving SHIB. This accumulation by significant holders typically indicates confidence in the asset’s future performance, suggesting a looming price rally.
Key insights include:
- A target price of $0.000081 indicates strong bullish sentiment.
- Recent whale transactions show substantial trading volumes, with trillions of SHIB tokens changing hands.
- Rising Daily Active Addresses (DAA) suggest increased user engagement with the memecoin.
As SHIB’s potential for growth remains strong, these factors combine to create an optimistic outlook for the cryptocurrency’s market trajectory.