Shiba Inu price prediction and whale buying as $150 million trading volume surges.

Shiba Inu price prediction and whale buying as $150 million trading volume surges.

The Blockchain Industry: Examining Recent Developments and Future Prospects

SHIB/USD Chart Source: TradingView

The blockchain industry continues to captivate the attention of investors and crypto enthusiasts alike, with recent developments in the market highlighting the resilience and potential for growth of blockchain-based cryptocurrencies. Despite a general sense of cautiousness in the broader crypto market, meme coins, in particular, have been witnessing positive price action. One such meme coin, Shiba Inu (SHIB), has emerged as a standout performer in the top 20 cryptocurrencies. Over the past 24 hours, SHIB has experienced a significant influx of more than $150 million in trading volumes, propelling its value upwards.

Currently trading around the mid-point of its weekend range at $0.00000850, SHIB has demonstrated a 2.5% increase in value, reaching its highest level since early June. This surge in price is attributed to SHIB’s ability to break above key resistance areas, such as the low $0.000008s, and surpass its 100-Day Moving Average. These technical indicators confirm SHIB’s bullish trend in the near term, especially considering its recent formation of an ascending triangle pattern.

Are Shiba Inu (SHIB) Whales Buying?

The positive price action of SHIB can be partly attributed to buying activities from cryptocurrency whales. On-chain analytics firm Santiment revealed that wallets holding between 10 million and 100 billion SHIB tokens have accumulated $8 million worth of the coin over the past eight weeks. This accumulation by whales indicates their confidence in SHIB’s potential for further growth. Notably, these whales strategically bought SHIB during its dip to multi-year lows around $0.000006. If this trend continues, it is likely to propel the coin higher in the near future.

Price Prediction – Where Next for Shiba Inu (SHIB)?

With whale buying activity and the overall rally in meme coins like Dogecoin gaining momentum, the near-term outlook for SHIB appears promising. Technical analysis further strengthens the bullish case for SHIB, especially if it can confidently surpass its previous resistance levels in the low $0.000008s. Breaking these barriers would potentially open the door for a swift rally towards the late-May highs at $0.0000092, the March/April lows, and the psychologically important $0.000010 mark, which is in line with the 200-Day Moving Average. Such a movement could yield substantial gains of approximately 18% for SHIB in the short term.

No Image

Altcoin to Consider – yPredict (YPRED)

As the blockchain industry continues to evolve, innovation plays a pivotal role in unlocking new opportunities. One such innovative project is yPredict, a ground-breaking AI-powered crypto trading and market intelligence platform. This platform aims to build a first-of-its-kind institutional-grade crypto price prediction system, empowered by deep data analysis. The unique aspect of yPredict’s price prediction system is its accessibility to all users. The project’s whitepaper states that the publicly available price predictions will require no login to view.

Beyond price predictions, yPredict offers investors a comprehensive suite of features and tools. Traders and investors gain access to AI-powered signals, pattern recognition, and sentiment analysis derived from social and news sources. The platform’s technology was developed by top-tier AI developers and quants, ensuring high accuracy and reliability.

Furthermore, the marketplace allows experts to monetize their expertise by offering model predictions and data research as trading signals for subscribing traders and investors. This dynamic marketplace facilitates recurring revenue for experts while providing valuable insights for users.

In a landscape where AI continues to make significant waves, projects like yPredict are expected to attract substantial interest and user bases. Such AI-focused cryptocurrencies, including yPredict’s native token, $YPRED, are poised to emerge as top performers.

Visit yPredict Here

Get in on the yPredict Presale Now

To support the development of its revolutionary AI-powered crypto trading and market intelligence platform, yPredict is conducting a presale of its native token, $YPRED. The presale has already reached an impressive milestone of $3.25 million, showcasing the strong demand for the project. The presale is currently in its seventh stage, with $YPRED tokens selling at $0.10. Investors participating in the presale can potentially enjoy paper gains of 20%, as the token is projected to list on major exchanges at $0.12 later this year.

However, given the fast-paced nature of yPredict’s presale, interested investors must act swiftly to ensure they don’t miss out before the presale sells out. With a presale hard cap of $6.5 million, the initial gains of 33% could pale in comparison to the long-term potential of $YPRED.

Visit yPredict Here

Disclaimer: Crypto investments carry inherent risks, and this article is provided for informational purposes only. It does not constitute investment advice, and there is a possibility of losing all invested capital.