Shiba Inu Price Analysis: On-Chain Metrics Signal 40% Potential Rally Ahead

Quick Summary:

Despite the following recovery, SHIB struggles to reclaim its previous highs as the market remains fearful.SHIB price dropped by 2.5% on Wednesday as on-chain metrics signal a bullish storm forming.

Shiba Inu price suffered a steep correction in the August 4 market crash.

According to IntoTheBlock data, SHIB witnessed an increased amount of large transactions on August 5, which signals increased whale activity.

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Article Details

Author / Journalist: Evans Karanja

Category: Crypto

Markets: India

Topics: SHIB Price Shiba Inu Price Shiba inu price analysis Price Analysis

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-07 @ 12:04:03 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 466 words

Reading Time: 3 minutes read

Sentences: 40 lines

Sentence Length: 12 words per sentence (average)

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Copyright Owner: © CoinGape

News ID: 21969796

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