Shiba Price Prediction: Can SHIB Sustain Its Uptrend From Here?

Key Insights:

• Shiba Inu’s daily Inverted H&S pattern was completed, favoring bullish continuation.
• Shiba Inu market revealed that 42% of holders are seeing gains, while 55% are not making any gains.
• SHIB concentration revealed that whales were in charge of 59.39% of them.

Shiba Inu (SHIB) price prediction charts suggested potential bullish continuation despite a slight drop of 0.1% and 45% drop in daily trading volume.

Shiba Price Prediction

Shiba price prediction on the daily chart had an inverted head and shoulders setup that burst above the neckline at about $0.00001430.

Following the breakout, the price spiked higher and then revisited the neckline, proving it was a broken back pattern.

The price of SHIB was near $0.00001485, stopping below the previous resistance and now forming a base of support.

The pattern usually allowed bulls to make progress, so if the neckline was kept, SHIB could face resistance at $0.00001680.

If the price managed to rise above that, it could move toward the $0.00001800-$0.00001900 price range.

If the neckline was not held, that breakout may not count, leading the price to the bottom of $0.00001300 or even $0.00001200 seen in March and April.

As defined in the books, the structure was symmetrical. The shoulders were constructed with higher lows; March low was the head.

So long as the price remains around the neckline, the bulls would have their way. If SHIB displays heavier trading volume above $0.00001500, then it would move up in the coming sessions.

Token Summary on Shiba Price Prediction

Key information about the token’s performance revealed Shiba price prediction had 42% of holders seeing gains, while 55% are not making any gains, so most holders seem neutral to bearish.

Since 74% of the tokens were stored by a few large holders, the market might become very volatile since they can easily impact the price.

The SHIB price strongly reacted to Bitcoin’s price movements, as seen through its 0.77 correlation with BTC.

It looked like Telegram members dropped by 0.44%, suggesting that interest in the community may be changing for the worse.

However, in terms of transaction volume during the last 7 days, SHIB handled a volume of $249.62M, indicating that people were trading the token, but that growth was not major.

Almost three-quarters of SHIB holders held their tokens for a year or more, pointing to a calm environment. However, only 4% owned the token for a mere moment, and the rest were regular traders.

Ultimately, the prices of SHIB might be affected by whales trading and the trends in Bitcoin.

Whale and Investors Concentration

SHIB concentration revealed that whales—and addresses that hold over 1% of all SHIB in circulation—were in charge of 59.39% of them, or 585.16T SHIB.

Six whales controlled this category, and the one with the biggest share, at 41.66%, could influence prices if they sell large quantities.

At the same time, there were 49 addresses of investors with balances between 0.1% and 1%, who together own 14.96% or 147.38T SHIB.

Whales were actively involved, but due to diversified investment, individual investors had a smaller mark on the market. SHIB’s price could easily spike up or down in response to whales acting in unison.

Yet, it also demonstrated that areas remained active thanks to proactive major holders.

An evenly balanced distribution might help reduce price volatility over the long term. However, the current situation meant snapshots of the price may still depend on limited addresses.

More participation by new investors and extra stakeholders might help the market become more stable.

The market was still largely affected by big wallet decisions, despite reliable interest from regular retail and mid-level investors.