The EMA lines are currently nearing a golden cross formation—a bullish signal that could push Shiba Inu’s token to test resistance levels.
Shiba Inu’s Price Still Has Room to Grow
The 7-day MVRV (Market Value to Realized Value) for SHIB stands at -0.04%, indicating recent buyers are near breakeven with minimal gains or losses. This metric compares the current price to the average acquisition cost over the past week, offering insight into short-term profitability.
A slightly negative MVRV suggests SHIB holders haven’t yet realized substantial gains, which typically reduces immediate sell pressure. Historically, SHIB’s price tends to rise until the 7-day MVRV exceeds 4%, prompting profit-taking. The current level implies further upside potential.
👉 Discover the best platforms to buy Shiba Inu (SHIB)
No Significant Whale Accumulation
Between October 31 and November 1, the number of SHIB wallets holding at least 1 billion tokens dropped from 11,024 to 10,981. Tracking whale activity is crucial, as these large holders can influence price movements.
While the decline suggests gradual selling rather than panic, the trend hasn’t intensified enough to disrupt SHIB’s upward momentum. A steady decrease implies the market may continue its current trajectory without major sell pressure.
SHIB Price Prediction: A Potential 23% Surge?
The EMA lines on SHIB’s chart hint at a bullish golden cross—a scenario where short-term EMAs cross above long-term EMAs, signaling upward momentum. If confirmed, this could attract buying interest.
Key levels to watch:
- Upside: A breakout above $0.00001959 could target $0.00002171 (+23%).
- Downside: Failure to hold support at $0.00001583 may lead to a drop toward $0.00001296.
Bottom Line: Shiba Inu aims to bark as loud as Dogecoin.
FAQs
Q: What is a golden cross in trading?
A: A golden cross occurs when a short-term moving average (e.g., 50-day EMA) crosses above a long-term average (e.g., 200-day EMA), signaling potential bullish momentum.
Q: Why is whale activity important for SHIB?
A: Whales hold large amounts of SHIB; their buying or selling can significantly impact prices due to their market influence.
Q: What does a negative MVRV indicate?
A: It suggests recent buyers are near breakeven, reducing sell pressure and leaving room for price appreciation.
👉 Learn how to stake SHIB for passive income
Disclaimer: This analysis is for informational purposes only and not financial advice. Cryptocurrency markets are volatile; conduct your own research before investing.