On Friday, renowned cryptocurrency researcher Crypto Rand tweeted that the meme coin wants to burst out. The analyst released a screenshot of a chart that indicates the popular meme currency has completed the Falling Wedge pattern many times since August of last year.
Eyes on $SHIB 🐶 it’s looking for the breakout! pic.twitter.com/kRZHxt8pFo
— Crypto Rand (@crypto_rand) April 14, 2023
After that, the breakout occurred. The expert predicts that Shiba Inu may rise sharply once again now that it has established a reversal pattern. According to CMC, the Shiba Inu price today is $0.000011 USD with a 24-hour trading volume of $329,893,058 USD. Shiba Inu is up 1.82% in the last 24 hours.
Positive Developments
The Shapella update for Ethereum was released this week, allowing users to withdraw ETHfrom the Beacon Chain deposit contract. This has already given the market positive momentum.
Shiba Inu aficionado KUROSHIBARMY JPN (@kuro_9696_9696) has posted some information on the Shibarium beta concerning recent accomplishments by the SHIB army.
In particular, the number of wallets on Shibarium’s Puppynet that are actively exchanging information has increased by about two million in the last day, from 4,059,878 to 5,833,845. In the same time frame, the total number of transactions increased from 3,149,432 to 3,234,888.
Data from Etherscan.io shows that the 29th biggest Shiba Inu whale released a massive 538 billion SHIB over five huge transactions over the period of 12 days. On April 2 the whale began a massive selling binge, eventually selling 20 billion SHIB (about $2.25 million) in a single trade.
However, in four different purchases, the 19th largest Shiba Inu SHIB/USD whale bought a whopping 171.68 billion SHIB, equivalent to a total of $1.88 million.
