- SHIB’s RSI and volume spikes indicated potential upward movement, but resistance must be cleared.
- Whale accumulation and network growth are promising, but a 7,000% surge is only possible with a major catalyst.
Shiba Inu [SHIB] is grabbing headlines again, with whale accumulation sparking expectations of a possible 7,000% growth.
But is this figure realistic, or is it overly optimistic? Let’s explore the latest technical and on-chain data to see if SHIB has the potential to reach such heights.
Is the chart signaling a potential breakout?
From the 30-minute chart, SHIB’s RSI stood at 42.08, suggesting it’s not overbought and there may be room for upward movement.
However, SHIB appears to be consolidating near $0.00001315, and Bollinger Bands show low volatility, hinting at sideways trading.
While there is potential for a rally, breaking through key resistance levels is essential for SHIB to gain serious momentum.
Source: X
Is volume supporting the surge?
One of the most bullish signals is the 745.09% spike in transfer volume over the last 24 hours at press time, suggesting a sharp increase in trading activity.
Volume often precedes price movements, which could be a precursor to a rally.
While the current spike is promising, continued momentum and long-term interest would be necessary to support such a dramatic price rise.
Additionally, the active addresses have increased by 21.92% in 24 hours at press time, signaling a growing interest in SHIB. However, to hit such a high target, further acceleration in user adoption and transaction volume would be required.
Source: CryptoQuant
Will Shiba Inu whale moves fuel SHIB?
Whales held 61.23% of SHIB’s total supply at press time, four transactions over $100K have been recorded the previous day.
While whales are accumulating, more than their activity alone may be needed to trigger such a monumental rise without broader market participation.
Source: Santiment
Is exchange supply indicating a bullish move?
The 24-hour 0.02% and 7-day 0.13% declines in exchange reserves indicated lower selling pressure as investors move their tokens off exchanges.
This trend reducedthe available supply on exchanges, potentially driving price upward.
Source: CyptoQuant
Is your portfolio green? Check out the SHIB Profit Calculator
Can SHIB rise 7,000%?
While there are bullish indicators—rising volume, whale accumulation, and network growth—a 7,000% surge seems overly optimistic at this point.
SHIB may experience a rally, but achieving such an extreme price increase would require continuous whale activity, massive market interest, and sustained momentum over a long period, and only time will tell.
