{"id":28087,"date":"2024-12-12T23:30:02","date_gmt":"2024-12-12T23:30:02","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=28087"},"modified":"2024-12-12T23:30:02","modified_gmt":"2024-12-12T23:30:02","slug":"shiba-inu-price-rebounds-toward-0-00003-taking-69-of-all-holders-back-into-the-green","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=28087","title":{"rendered":"Shiba Inu Price Rebounds Toward $0.00003, Taking 69% Of All Holders Back Into The Green"},"content":{"rendered":"

The Shiba Inu price has rebounded towards $0.00003, which has put most of the SHIB holders<\/a> back in the green. This is significant, considering how it could set Shiba Inu on a path to higher prices.\u00a0<\/p>\n

Most SHIB Holders In The Green As Shiba Inu Price Rebounds<\/h2>\n

IntoTheBlock data<\/a> shows that most SHIB holders are in the green as the Shiba Inu price rebounds towards $0.00003. 69% of these SHIB holders<\/a> are now in the money, while 24% are out of the money, and 6% are currently in the money. This could be bullish for the Shiba Inu price, considering that holders are less likely to sell when they are in the money.\u00a0<\/p>\n

This could reduce the selling pressure on SHIB and sustain the Shiba Inu price recovery<\/a>. The meme coin has recovered towards $0.00003. The \u2018In the Money\u2019 metric shows that the next significant resistance level that Shiba Inu needs to break above is $0.000033. 130,620 wallet addresses bought 15.06 trillion SHIB tokens around this level.\u00a0<\/p>\n

However, on-chain metrics still paint a bearish picture for Shiba Inu, which is undoubtedly concerning. IntoTheBlock data shows that the \u2018Concentration\u2019 metric is in the red, indicating that SHIB whales<\/a> currently have a bearish sentiment towards the meme coin and are opting against accumulating more coins.\u00a0<\/p>\n

This large transaction metric is also bearish at the moment as Shiba Inu whales are opting against accumulating more coins. The net network growth also paints a bearish picture for the Shiba Inu price, as there is currently a low influx of new addresses buying the meme coin.\u00a0<\/p>\n

The Shiba Inu burn rate<\/a> has also remained inconsistent, further presenting a bearish outlook for the Shiba Inu price. Shibburn data<\/a> shows that the burn rate is down over 79% in the last 24 hours, with three million coins burned during this period.\u00a0<\/p>\n

From A Technical Analysis Perspective\u00a0<\/h2>\n

Crypto analyst Javon Marks<\/a> has provided a bullish outlook for Shiba Inu from a technical analysis perspective. In an X post, he stated that Shiba Inu recently confirmed another bullish pattern, which could lead to a continuation of its upward trend. The analyst added that another major upside move could be in play for SHIB, with the meme coin possibly rallying to $0.00081 or even higher.\u00a0<\/p>\n

The crypto analyst further mentioned that with this target at $0.000081, the Shiba Inu price could witness a 180% climb and that this rally may already be in play. A rally to $0.000081 could pave the way for Shiba Inu to surpass its current all-time high<\/a> (ATH) of $0.000088.\u00a0<\/p>\n

At the time of writing, the Shiba Inu price is trading at around $0.000029, up over 8% in the last 24 hours, according to data<\/a> from CoinMarketCap.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

The Shiba Inu price has rebounded towards $0.00003, which has put most of the SHIB holders back in the green. This is significant, considering how it could set Shiba Inu on a path to higher prices.\u00a0 Most SHIB Holders In The Green As Shiba Inu Price Rebounds IntoTheBlock data shows that most SHIB holders are […]<\/p>\n","protected":false},"author":0,"featured_media":28088,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-28087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/28087"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28087"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/28087\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/28088"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}