Shiba Inu on-chain signals turn bullish shibainu SHIB SHIBARMY
The ''In The Money'' metric flipping bullish for Shiba Inu might suggest less selling pressure from holders trying to break even on their positions. Presently, 63% of addresses are in profit. A growing number tends to be positive for the network with more holders ''in the money.''The Concentration group of indicators shows the distribution of an asset's circulating supply based on the value of holdings by address.
A growing concentration might suggest that more large holders are getting into Shiba Inu's price action.Shiba Inu is presently trading at $0.00003802 as it approaches a key barrier. If SHIB slices above the $0.000040 mark, the dog-themed asset might head for a 43% rise to $0.000055. If a spike in buy orders occurs, Shiba Inu's price might rally past the optimistic target at $0.000055 and aim for higher ground at $0.000065. Alternatively, Shiba Inu's price may seek footholds at $0.000032 and $0.000028.
At press time, Shiba Inu ranked the 13th largest cryptocurrency by market capitalization and was up 3.50% in the last 24 hours, according to CoinMarketCap data.
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