Analyst Predicts Major Breakout for Shiba Inu (SHIB) Price

• Crypto Rand, a well-known crypto analyst, and trader believes that Shiba Inu (SHIB) is on the verge of major breakout.
• Shibarium’s first-month anniversary approaches and SHIB has dipped despite the expectations of community.
• A Whale has sold 538 billion SHIB, valued at $6.07 million, through five major transactions in the past twelve days.

Analysts Predict Shiba Inu (SHIB) Price On Verge Of Major Breakout

Crypto Rand, a well-known crypto analyst and trader believes that Shiba Inu (SHIB) is on the verge of a major breakout. Despite the broader crypto market occasionally registering gains, Shiba Inu has been in a consolidation phase over the past month. Crypto Rand highlighted a pattern observed on Shiba Inu’s daily chart remarking “Eyes on SHIB, it’s looking for the breakout!” This chart displays a descending wedge that SHIB has fallen into repeatedly with each time leading to significant price increases.

Shibarium Anniversary Approaching

As Shibarium’s first-month anniversary approaches, Shiba Inu’s price has dipped despite expectations from the community anticipating an increase following its launch. Currently trading at $0.000011 with a 0.8% decrease in 24 hours but a 2.5% increase in weekly charts analysts predict upcoming launch of SHIB: The Metaverse could benefit asset prices positively.

Whale Selling Spree

Data from Etherscan shows that 29th largest Shiba Inu Whale sold 538 billion SHIB worth $6 million through five transactions within 12 days starting April 2nd 2021 with 200 billion SHIB followed by another four 100 billion transactions on April 5th , 88 billion transaction on April 11th , 50 billion transaction on April 14th and lastly 100 billion transaction on April 15th .

Impact On Prices

The recent whale selling spree was able to have significant impact on prices due to large amount being transfered which might have caused some panic among investors leading to further dip in prices although considering current market stability this dip might be taken as good opportunity for potential buyers looking to invest in coin long term basis .

Conclusion

The future of shibe looks promising as analysts anticipate an imminent breakout from its current consolidation period with Shibarium’s first month anniversary approaching along side upcoming launch of new platform The Metavers which can potentially drive up asset prices making now an ideal time for potential buyers planning to enter into cryptocurrency market .