Yesterday, Ali (@ali_charts), a seasoned crypto trader, took to Twitter to report on the impressive surge in daily active addresses for the widely popular meme token, Shiba Inu (SHIB). According to data from Santiment, SHIB’s daily active addresses have reached a yearly high, marking a significant milestone for the cryptocurrency.
Based on the information shared in the tweet, SHIB boasts an impressive count of around 35,788 distinct wallet addresses that have been actively engaging with the network as of late.
The recent surge in activity has yielded favorable results for the meme token, as reported by CoinMarketCap. SHIB has experienced a 4.51% increase in value over the past 24 hours, contributing to its overall positive performance for the week. SHIB has gained approximately 6.84% in the last seven days alone, bringing its current price to $0.00001126. These figures indicate a promising outlook for the token’s future.
In the past 24 hours, SHIB has demonstrated its resilience by outperforming the two largest cryptocurrencies regarding market capitalization. SHIB has surged by 4.35% against Bitcoin (BTC) and 4.52% against the altcoin leader, Ethereum (ETH). These figures testify to SHIB’s growing strength and potential in the crypto market.
Over the past 48 hours, SHIB’s price made two valiant attempts to surpass the resistance level at approximately $0.00001121. While both efforts succeeded in breaking through the barrier, the altcoin’s token could not maintain its position above the level as bears exerted their influence and pushed the price back down. Despite these setbacks, SHIB’s price remains a topic of interest for investors and traders alike.
The daily chart of SHIB indicates a potential bullish technical flag, as the 9-day EMA line is on the verge of crossing above the 20-day EMA line. This development could lead to a price surge for SHIB, with projections pointing towards a rise to $0.00001207 shortly.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
