Shiba Inu Whale Dominance Reaches 74%: Market Impact?
Main Idea
Shiba Inu's whale dominance has reached 74%, indicating significant accumulation by large holders, while its price shows volatility and key support/resistance levels.
Key Points
1. Shiba Inu's concentration by large holders (whales) has reached 74%, suggesting aggressive bets on its future value increase.
2. IntoTheBlock data shows 79% of Shiba Inu holders are long-term investors, with some likely being exchanges holding billions of SHIB.
3. Shiba Inu's price recently traded at $0.00001405 after a sell-off, fluctuating between $0.00001392 and $0.00001422, with key support at $0.00001265 and resistance at $0.00001427.
4. The cryptocurrency has expanded its use cases, including Shibarium, which may influence its market performance.
5. The next decisive price movement for Shiba Inu will depend on breaking above or below the current support and resistance levels.
Description
Shiba Inu has increased use cases, prompting shift in market
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