Shiba

Rally

Shiba Inu

Gains

<p>Shiba Inu’s on-chain metric is showing a positive sign that suggests we could see a bullish run soon. As posted by Ali on X, 1.67 trillion SHIB tokens have been withdrawn in the past 24 hours.</p>
<p>These metrics have triggered an over 60% price surge in the past. This suggests we could see something similar again.</p>
<blockquote class="twitter-tweet">
 <p lang="en" dir="ltr">1.67 trillion <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SHIB</a> have been withdrawn from exchanges in the past 24 hours. The last time we saw a similar spike, <a href="https://twitter.com/hashtag/ShibaInu?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#ShibaInu</a> surged 62% in price. <a href="https://t.co/zcgmusDCuP" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/zcgmusDCuP</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1859217203771408855?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 20, 2024</a>
</blockquote>
<h2 class="wp-block-heading" id="will-shib-price-rally-again">Will SHIB Price Rally Again?</h2>
<p>A look into <a href="https://www.coingecko.com/en/coins/shiba-inu" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu’s price action</a> shows a mixed picture. The price has been trading sideways for the past week, with candlesticks forming upper and lower wicks. This candlestick formation makes it challenging to determine where the price is headed next.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="477" src="https://captainaltcoin.com/wp-content/uploads/2024/11/image-694-1024x477.png" alt="" class="wp-image-585220" srcset="https://captainaltcoin.com/wp-content/uploads/2024/11/image-694-1024x477.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-694-300x140.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-694-766x357.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-694-1536x716.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-694-2048x954.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-694-322x150.png 322w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-694-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-694-751x350.png 751w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-694-788x367.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-694.png 1788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>One thing that gives us an idea is that the price is currently struggling to break a strong support level at around $0.00002441. This level has held the price from declining further since it started consolidating. If it continues to hold, we could see a spike to higher levels.</p>
<p>However, breaking this level could take the price down to a trendline support, from which it has consistently gained liquidity in the past.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/toncoin-ton-price-could-rally-to-10-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Toncoin (TON) Price Could Rally to $10: Here’s Why</a></em></strong></p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="477" src="https://captainaltcoin.com/wp-content/uploads/2024/11/image-695-1024x477.png" alt="" class="wp-image-585228" srcset="https://captainaltcoin.com/wp-content/uploads/2024/11/image-695-1024x477.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-695-300x140.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-695-766x357.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-695-1536x716.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-695-2048x954.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-695-322x150.png 322w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-695-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-695-751x350.png 751w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-695-788x367.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-695.png 1788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>The trendline has prevented the price from falling in September, October, and earlier this month. It appears to be the point where buyers get liquidity.</p>
<p>In case there isn’t much momentum to move upward, SHIB’s price may need to revisit the trendline for an opportunity for a bullish reversal (this will be the next option if the ongoing support breaks).</p>
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
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<p>The post <a href="https://captainaltcoin.com/metric-that-spiked-shiba-inu-double-digit-gains-reemerges-will-shib-price-rally-again/" rel="noopener noreferrer nofollow">Metric That Spiked Shiba Inu Double-Digit Gains Reemerges: Will SHIB Price Rally Again?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Metric That Spiked Shiba Inu Double-Digit Gains Reemerges: Will SHIB Price Rally Again?

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