Shiba Inu is soaring up the 7-day, 14-day, and 30-day charts. Here are three signs that the SHIB price rally for the popular Ethereum ERC-20 meme coin continues.

But real quick first, here is the most recent update on SHIB price:

Shiba Inu Support Building аt $0.00001075

The Shiba Inu token has bounced along a sideways channel with support at the $0.00001075 level since Friday, Dec. 22. During that time, SHIB charted highs with resistance around the $0.00001100 level.

Meanwhile, the meme coin surged to $0.00001125 briefly amid high trading volume on Saturday, Dec. 23, according to CoinGecko data.

On the 14-day chart, SHIB’s price gained 11.9% in crypto exchange value from $0.00000965 on Tuesday, Dec. 12, to $0.00001080 on Tuesday, Dec. 26.

With the average Shiba Inu trade moving SHIB tokens for $0.00000727 90 days ago, the meme coin has gained 48.55% against the US dollar on the three-month window.

SHIB Price Prediction: Long-Term Rally Indicators

Crypto insights and analytics firm Telegaon has an incredibly bullish maximum price target of $0.0000571 for Shiba Inu in 2024. In December, the source of the prediction has a minimum price scenario for 2024 of $0.0000121. That’s also very bullish for SHIB’s price next year.

Here are three signs it could happen:

1. Shiba Inu’s balance on exchanges has been falling since November.

Total Shiba Inu balance on exchanges, the total amount of SHIB in known wallets held by centralized crypto exchanges, has declined markedly since November.

#ShibaInu | Since November, there’s been a massive withdrawal of over 8 trillion $SHIB from known #crypto exchange wallets – that’s valued at approximately $88 million! pic.twitter.com/RLFA8N0dLI

— Ali (@ali_charts)