CandleFocus Shiba Inu (SHIB) on Verge of Becoming Profitable Again
2024-09-25
Author: Content Editor
According to on-chain data, nearly half of Shiba Inu (SHIB) holders are currently making a profit at the current price level. This suggests that SHIB may experience a surge in profitability if prices continue to rise. The data also indicates that a majority of SHIB's largest holders are whales, which means their decisions could have an impact on the token's price. SHIB's movement is expected to be influenced by the overall cryptocurrency market, particularly any significant changes in the price of Bitcoin. While there are mixed signals, exchange signals are showing bullish indicators, indicating growing demand on exchanges which could contribute to a price increase in the short term. It is crucial to monitor the $0.00001700 price level as a potential trigger for a larger rally and increased profitability for SHIB investors.
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