Shiba Inu: More Bite Than Bark – Another Price Jump Around The Corner?

Shiba Inu (SHIB), dubbed to be the second largest dog meme coin, is nearing a breach as claimed by analysts. Shiba Inu provided roughly 50% to holders last week; outstripping major cryptocurrencies like Bitcoin and others BitWallet recently listed SHIB strengthening meme coin adoption SHIB price could be nearing a breach as hinted by the reduction of trade volume and thinned-out inflows SHIB’s bearish movement is ushered mainly with the drop in trading volume as well as inflows. But, analysts continue to be optimistic on SHIB. Many analysts have forecasted SHIB recovery following the 50% gains sired within the week. SHIB is said to have generated roughly 50% gains as seen in the past few days hinting a bullish momentum for holders. To date, Shiba Inu is considered to be the largest ERC-20 token among the top 1,000 whales on the network. More so, investors have been consistently buying SHIB from July to August 2022, capitalizing on the dip. Related Reading: Decentraland Momentum Pushes MANA Into Consolidation Phase’s Higher Rung SHIB Nosedives 7.60% According to CoinMarketCap, SHIB has been down by 7.60% or trading at 0.00001473 as of press time validating a bearish perspective for the dog meme coin. Evidently, the top 500 whale wallets on the network have amassed around 119 billion SHIB which are bought during the price recessions from July to August of 2022. The current SHIB holdings of whales are now worth $1.89 billion that...