Expert crypto analysts Jonathan Morgan and Arman Shirinyan announced critical technical levels and on-chain activity for the Shiba Inu price. Here are the expected levels and network metrics for the Shiba Inu…
Jonathan Morgan shares $0.0000050 targets
Shiba Inu price completed the most bullish and optimistic close in more than 100 days. The bulls managed to push the SHIB up to 25% higher and completely swallowed the entire price range of the last twenty days. A hypothetical entry mark was placed around $0.000022 and the projected target was above $0.000050.
On the upside, the Chikou Spread will be above the candlesticks and in the open if the bulls can push the SHIB price between $0.000031 to $0.000032 or above. According to the analyst, this is a necessary condition for the ideal Taurus Ichimoku Breakout entry.
On the other hand, above $0.000031, the next and last resistance for Shiba Inu price on the daily Ichimoku chart is the top of the Cloud (Senkou Span B) at $0.000040. Therefore, investors should expect a significant amount of resistance at the determined levels.
Shiba Inu price peaks
SHIB showed the strongest increase in volatility since November 2021. The price of the token surged to pre-correction levels and peaked at $0.000035. Cryptokoin.com reported that Shiba Inu has returned to the top of the position of the largest token among whales, and this is confirmed by the rapidly increasing value of whale wallets, which is currently $ 1.8 billion. In addition to the recovery in the market, the basic background of the project is getting to the next level as the team behind the project adds numerous use cases to the token, such as the previously announced Shiberse Metaverse, the opening of a fast food chain, and others.
Biggest accumulation of Shiba altcoin whales
February seems to be a record month for the popularly known meme cryptocurrency Shiba Inu (SHIB). SHIB surpassed FTX Token to become the Largest ERC-20 Holding (16.85%) among the top 1000 ETH whales with a total value of $1.8 billion. Now 16.85% of the wallets of the largest Ethereum whales are leaving Shiba.
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