Shiba Inu Shows Potential for Bullish Momentum Amid Increased Wallet Activity
Main Idea
Shiba Inu (SHIB) shows potential for bullish momentum due to increased wallet activity and technical indicators suggesting a price recovery.
Key Points
1. New wallet creations for SHIB increased by 30% between August 7 and 9, indicating renewed investor interest.
2. SHIB’s 50-day EMA is nearing a bullish crossover with the 100-day EMA, enhancing bullish prospects.
3. The 200-day EMA acts as a crucial resistance level; a clear close above it could signal further bullish momentum.
4. Daily unique wallet count rose from approximately 3,000 to nearly 4,000, highlighting increased liquidity and trading volume potential.
Description
Shiba Inu (SHIB) has shown bullish momentum due to a recent spike in new wallet creations, indicating increased interest and potential market activity. This trend could lead to higher trading
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