Shiba Inu (SHIB) Price Predictions: Whales Accumulate, Ecosystem Ready for Mass Adoption

Shiba Inu (SHIB) price has been rising since last October, after being trapped in a bearish market for the prior two years.

Shiba Inu (SHIB) has been rallying since last October, finally breaking out of the two-year bear market that had gripped the meme coin. In recent times, SHIB has experienced a mini decoupling from other altcoins as mainstream adoption ramps up.

As the mid-cap altcoin continues to consolidate in a triangle on the daily time frame, on-chain data reveals that non-exchange whales have been accumulating heavily in the recent past.

On-chain data analysis firm Santiment reports that the top 150 Shiba Inu whales, excluding addresses connected to exchanges, have been accumulating over 6.5 trillion SHIB tokens in the past month.

On the other hand, the top 150 SHIB addresses that are flagged as crypto exchanges registered a net outflow of about 5.53 trillion Shiba Inu tokens over the past month. This massive鲸鱼需求激增表明 SHIB 价格即将迎来一波上涨趋势。

Shiba Inu 生态系统做好大规模采用准备

Shiba Inu ecosystem has massively benefited from the Shibarium layer two network in the past year. Already, a dozen decentralized finance (DeFi) projects have launched on Shibarium, increasing overall on-chain activity and the underlying burn rate.

Meanwhile, Shiba Inu has seen remarkable support from several dozen businesses worldwide that integrate crypto as a payment method. Moreover, the meme coin boasts deep liquidity and a vibrant online community of over 1.3 million holders.

Mid To Long-Term Price Outlook

Shiba Inu price has been undergoing a market correction for the past four months, which has presented a prime opportunity for mid to long-term investors.

Moreover, a fresh altseason is expected to kickstart once Bitcoin dominance begins a reversal in the near term.

From a technical standpoint, Shiba Inu price bounced off the 50 weekly Moving Average (MA), successfully retesting the macro bullish breakout. As a result, SHIB’s price is targeting a retest of its all-time high in the near term.

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