Shiba Inu Sees Surge Due to Increased Buying Activity from Whales, Potential Price Upside in Sight
The consistent accumulation by major holders serves as a positive signal, indicating strong belief in the token’s future growth. This pattern not only boosts the price momentum of SHIB but also lays the foundation for a potential upward trend, backed by the continuous commitment of its large investors.
Traders Opt to Hold, Contributing to SHIB’s Price Rally
Recent data on SHIB’s Network Realized Profit/Loss shows a prevailing downward trend in the last seven days, suggesting that numerous traders who offloaded their holdings did so at a loss. This pattern, as identified in Santiment’s statistics, points towards a decrease in selling activity, driven by holders’ hesitation to realize losses.
As a result, the decrease in selling pressure has been instrumental in bolstering SHIB’s recent price surge. With investors choosing to retain their tokens, they are showcasing faith in SHIB’s ability to bounce back, thus adding further momentum to its positive trajectory.