Shiba Inu To See Massive Rally Soon! Here’s What SHIB Holders Can Expect In Coming Week

SHIB

Shiba Inu has hit the spotlight once again after experiencing a weekend increase of roughly 30%. The meme currency gained roughly 27% yesterday (August 14) and SHIB remains positive at the moment, with great hopes that the bullish trend will last for a few days.

David Gokhshtein, a former US Congressional candidate and founder of Gokhshin Media, believes the Shiba Inu still has potential for growth and added, “”Nobody is watching SHIB right now. Looks like it’s refueling for the second leg.”

Shiba Inu just made a move that Gokhshtein predicted last week when he tweeted, “Shib also looks like it wants to rip,” along with the emoji “watch out.”

On August 14, the Shiba Inu was the biggest gainer in the market, rising over 35% from a low of $0.0000126. Shib showed a breakout above the July 20 high at $0.00000131 and reached a high of $0.0000179 on August 15 before reversing somewhat.

If the breakout signaled by a bullish inverted head and shoulders (H&S) pattern on its daily chart is verified, analysts think Shiba Inu may continue to outperform. 

Do the bulls have a ‘little’ advantage in this situation?

While the gains may stabilize before continuing, the daily RSI has declined from the over 80 level to the 60 level, which shows that the bulls still hold some gains. If the current decline continues, SHIB may revisit its previous range, which was supported near $0.00000102.

According to data from IntoTheBlock, there were 463 significant transactions in the last day, a startling increase of 1,554 percent.

Typically, a large transaction is one that exceeds $100,000, and an increase in these types of transactions is sometimes associated with an increase in the activity of whales that are either buying or selling.

Santiment, an on-chain analytics company, also pointed out: “Shiba Inu has been on the move this weekend, and is up +34% in the past 24 hours while #crypto has been fairly flat. Not so coincidentally, whales have been very active on $SHIB. There have been 433 transactions valued at $100k+, the most in 4 months.”

On the other hand, according to the Shibburn website, just 141 million SHIBs were burned in the last 24 hours, a 51% reduction in the Shiba Inu’s burn rate.

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