Market Analysts Outline 3 Catalysts For Shiba Inu Eruption To Highly-Anticipated $0.0003 SHIB Price ⋆ ZyCrypto
The post Market Analysts Outline 3 Catalysts For Shiba Inu Eruption To Highly-Anticipated $0.0003 SHIB Price ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Despite the recent market turbulence that pushed Shiba Inu (SHIB) to a 13-month low of $0.0000010 on Monday, popular crypto analyst Luckside Crypto has identified three key catalysts that could drive the popular meme coin toward a significant price recovery, potentially reaching $0.0003. In a Monday video, the analyst acknowledged being wrong about SHIB’s higher low formation but highlighted several positive developments against broader crypto market instability. “Despite the market drops and the big freakout going on throughout the space, Shiba Inu holders are showing remarkable resilience,” noted the analyst, pointing to SHIB achieving a new all-time high in holder count even as prices declined. According to him, the first catalyst identified is retail holder resilience. While many cryptocurrencies experienced massive sell-offs following global market volatility triggered by China’s worst stock crash since 2008, SHIB holders have notably maintained their positions. This unwavering community support provides a stable foundation for potential price appreciation once market sentiment improves. Secondly, significant whale accumulation has occurred during recent price dips. On-chain data reveals large investors have acquired approximately 874 billion SHIB tokens since early April, valued at roughly $10.4 million at current prices. This strategic buying by institutional players suggests strong confidence in SHIB’s long-term prospects despite short-term volatility. Advertisement   “Yesterday (Sunday) was a whale accumulation day,” Luckside Crypto pointed out. “Whales have been very heavily buying the dip as of late.” The third catalyst is diminishing exchange supply, which recently hit an all-time low. As of April 8, 2025, the total amount of SHIB tokens held across all cryptocurrency exchanges has declined significantly, reaching an all-time low of approximately 85.3 trillion SHIB. This reduction represents 14.5% of SHIB’s circulating supply, indicating a substantial decrease in exchange reserves. Decreasing available tokens on exchanges typically creates upward price pressure when…
Filed under: News - @ April 12, 2025 9:19 am