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Shiba Inu’s Weekly Volume Patterns Signal Imminent Market Reset

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SHIB Mainstream Appeal Increases with New Payment Options

Shiba Inu (SHIB) is poised to enter another weekly market cycle, driven by trading volume patterns. The meme coin exhibits a recurring trend of volume spikes at the beginning of each week, followed by a gradual decline. This pattern likely indicates a reset for SHIB, aligning with its trading dynamics. 

Currently, Shiba Inu is trading at $0.00002446, maintaining a position above the 50-day Exponential Moving Average (EMA). This stability above the EMA signals positive momentum for bullish investors. Notably, at this price point, 60% of SHIB holders are in profit, 4% are at breakeven, and 35% are experiencing losses. This distribution shows a strong base, with the majority in the green.

Related article: Shiba Inu Transaction Surge: A Deep Dive into Investor Activity

Influence Of Large Holders

Large holders, or whales, control a significant portion of SHIB tokens, holding 73% of the total supply. This concentration suggests that these major players have substantial influence over price movements. Additionally, transactions exceeding $100,000 have totaled $635.45 million over the past week, highlighting substantial activity from big-money investors.

SHIB/USDT Chart by TradingView

Overall market sentiment towards Shiba Inu remains strongly positive, as supported by both on-chain and exchange indicators. On-chain data reveals a network growth of 0.32%, indicating an influx of new participants into the SHIB ecosystem. Large transactions show a 3.95% bullish signal, reflecting significant interest from major investors.

Exchange Indicators

Exchange indicators further reinforce the positive outlook for SHIB. The smart price remains stable, while the bid-ask volume imbalance reads a slightly negative 0.53%. This balance suggests a stable flow of demand and supply in the market. The high concentration of large holders, coupled with numerous high-value transactions, underscores the bullish sentiment surrounding Shiba Inu.Shiba Inu is on the verge of another market cycle reset, characterized by its consistent weekly trading volume pattern. 

Related article: Shiba Inu Name Tokens Find a Home in D3’s Beta Marketplace

With its price remaining above the 50-day EMA and a strong base of profitable holders, SHIB exhibits bullish tendencies. The significant influence of large holders and the ongoing high-value transactions further emphasize the positive market sentiment. 

Both on-chain and exchange indicators support this optimistic outlook, indicating a promising future for Shiba Inu.

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