CandleFocus Shiba Inu Climbs to 9-Month High, Bolstered by Long-Term Holder Support
2024-12-05
Author: Content Editor
Shiba Inu (SHIB), a meme coin, has seen a significant price surge in recent weeks, reaching a nine-month high. The backing of long-term holders (LTHs) and a recent move by the US government involving SHIB tokens seized in a scandal have contributed to its increased attention. The MVRV Long/Short Difference metric suggests strong support from LTHs, indicating the potential for a sustained upward trend. SHIB's price has increased by 10% in the last 24 hours, and it may break the resistance level of $0.00003515, leading to further growth. However, losing its current support level could result in a decline to the next support zone.
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