Can Shiba Inu whale moves help SHIB rise 7000%?
- 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.
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.
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.
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.
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.