The recent recovery in the crypto currency market was also positively reflected in the price of Shiba Inu (SHIB). In the last 24 hours, the price of SHIB has managed to stay above $ 0.000016 and showed a slight recovery. The bull air, which dominates throughout the market, strengthened the upward expectations for Shıb. Shıb, which has been in the consolidation process especially in recent weeks, has started to test critical levels and signals for a possible exit. According to experts, 35 trillion shib and capitulation withdrawn from the stock exchanges, ie the trader’s giving up, may be a harbinger of a strong price increase in the near future.
35 trillion shiba Inu withdrew from the stock markets
There is a remarkable decrease in Shiba Inu’s stock market supply. Since January 4, the total SHIB supply in the stock exchanges fell from 141 trillion token level to 106 trillion. This indicates that investors follow a long -term retention strategy by pulling the tokens in the hands of the stock exchanges. Reduction of sales pressure may support the upward movement of the price. Historically, large -scale decreases in stock market balances have triggered bull trends in the price of SHIB.
According to analysts, the Network Kar-Zarar (NPL) Metric, one of another critical indicator, showed a negative pointed tip. This reveals that many investors sell at the loss and capitulation. The capitulation, usually seen in periods of market soles, can pave the way for a new bull trend by providing weak hands out of the market. According to historical data, if this trend persists, the price of SHIB may increase by more than 200 %to $ 0.00004923.
Technical indicators and possible targets in Shıb
As of Tuesday, February 11, the price of Shıb was traded at the level of 0.00001641 dollars, while a 3 %rise in the last 24 hours. When the weekly graph is examined, according to experts, it is observed that the reverse shoulder-head-omuz (H&S) formation, which is a classic bull’s return signal, is observed. This formation may indicate a powerful rise if the price exceeds critical resistance levels.
According to the technical analysis of Coings analysts, the first critical resistance level was determined as $ 0.00003286. If this level is exceeded, it is estimated that the price of SHIB may rise to $ 0.00006029. In this scenario, an increase of 267 %of the current price may occur.
