While several crypto assets faced bearish closes on Wednesday, Shiba Inu, the second-largest dog-themed meme coin, saw a bullish close with a nearly 3% rise. With SHIB gaining bullish traction once again, several key metrics are beginning to exhibit positive trends, hinting at a potential continuation of the newfound upward strength.

Explosive Growth In Shiba Inu’s Price On The Horizon

Shiba Inu is once again commanding attention across the crypto landscape as the popular meme coin slowly recovers from its downward trend. This is due to fresh on-chain data pointing to a potentially powerful shift in momentum, which could spark an explosive rally for SHIB in the near term.

After examining several key on-chain metrics, Joao Wedson, the founder and Chief Executive Officer (CEO) of Alphractal, revealed that these indicators have turned positive. These metrics are pointing to key wallet and network activity patterns that indicate rising investor confidence, which could trigger a notable 125% surge in SHIB’s price.

Joao Wedson started by highlighting that on-chain data show that Shiba Inu is in an accumulation phase. While SHIB is in an accumulation phase, metrics such as Realized Cap Impulse are signaling a possible shift toward positive territory.

Go to Source to See Full Article
Author: Godspower Owie

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details