The post Shiba Inu Price Could Double as Large Holder Concentration Hits 73% appeared on BitcoinEthereumNews.com.

Shiba Inu price, a meme-based cryptocurrency, surged 60% over the past month, capturing significant market attention. Despite minor pullbacks, SHIB maintains a strong bullish trajectory, signaling potential for further growth in 2024. Large holder concentration at 73% underpins this momentum, suggesting robust investor confidence.  Shiba Inu Price Breakout to Trigger 100% Rally Shiba Inu price shows signs of significant price compression, hinting at a potential breakout. Analysts point to the formation of a tightening price pattern, with increasing bullish momentum suggesting the possibility of a sharp upward movement. The current price action indicates that SHIB is forming an ascending triangle pattern, a bullish continuation signal. This pattern, characterized by rising support levels and a horizontal resistance line, often precedes major price movements.  At the time of writting, the SHIB price is trading at $0.0000298, with a slight decrease of 7% in the past 24-hours. However, the SHIB has been up by 5% over the past week. If the bullish momentum intensifies and Shiba Inu price prediction successfully breaks the resistance level, analysts project the potential for a rally of up to 100%. This forecast is supported by a surge in other crypto markets, meme popularity, SHIB burn, and the whole SHIB ecosystem SHIB Large Holder Concentration Grows The insights into SHIB reveal significant trends in largeholder concentration and investor activity. According to the data, whale wallets own more than 1% of the circulating supply, and investors between 0.1% and 1% control a substantial 73% of SHIB’s circulating supply. Whales dominate this segment, holding 59.03%, equivalent to 580.98 trillion SHIB. On the other hand, investors contribute 14.19% to the total, accounting for 139.63 trillion SHIB. Metrics indicating profitability among holders are also telling. Currently, 74% of SHIB holders are “in the money,” signifying they are profiting at the current price levels.…

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Filed under: News - @ December 10, 2024 4:24 am