The price of Shiba Inu (SHIB) hovers, eyes gleaming, on the brink of an unimaginable rise, with two key on-chain metrics whispering tales of a glorious ascension. These indicators suggest the meme coin has entered a phase of accumulation, poised to reignite bullish forces and set the stage for a fierce rally.
Yet, despite the winds of optimism, the current value of SHIB remains rather lackluster, down 15% from its dizzying highs in April, which stood at $0.000015. At present, it clings to $0.000013, showing a pitiful 0.03% gain over the past 24 hours. Ah, the fickleness of the market…
The Looming Specter of an 108% Rally: Shiba Inu’s Inevitable Ascension
The daily chart reveals a tantalizing secret: an explosive rally is not only possible, it’s almost certain. The coin, after struggling against the shackles of a descending trendline, teases the possibility of a breakout from its accumulation zone. The next battle lies at $0.00001364, where a decisive closing above this level will change the course of history—flipping the market structure into bullish territory.
If that breakthrough occurs, and SHIB manages to stay above the magical moving average of $0.0000182, a reaccumulation phase will likely unfold before the coin surges—yes, surges—toward a possible 108% rally to $0.0000286. Prepare for liftoff.
The RSI sits comfortably at 54, a promising sign that the bullish momentum has the muscle to fuel this upward journey. But caution, fellow traders, for the AO bars hint at a slight weakening in the uptrend. The bullish sentiment might not be as robust as one would hope, yet the game is far from over.
Despite these ominous warnings from the AO bars, two crucial on-chain metrics suggest that the 108% rally is more than a fantasy, and that Shiba Inu’s price could soar to new heights at any moment. The excitement, dear reader, is palpable.
Shiba Inu’s MVRV Ratio and On-Chain Losses: The Precursor to the Explosive Rally
The Market Value to Realized Value (MVRV) ratio is sending out bold signals that SHIB is on the verge of an explosive bull market. This ratio mirrors the levels seen back in Q3 2024, just before a 54% rally erupted within two months, followed by a subsequent 94% surge in Q4. This latter surge catapulted SHIB to a multi-month high of $0.000033 by late 2024. Is history about to repeat itself? Maybe.
If the past is indeed a reliable guide, SHIB could mirror its former glory and soar by 94%, landing at a shiny new target of $0.0000259. This strengthens the bullish case for Shiba Inu and brings us tantalizingly close to the idea of fresh all-time highs.
Meanwhile, Santiment’s data paints an even more fascinating picture: the ratio of daily on-chain transaction volumes in profits and losses has dropped to an abysmally low 0.24%, marking the lowest point in nearly two months. This suggests that most holders are currently in the red, a scenario that has historically preceded a sharp upward rebound. Traders are simply too demoralized to sell—yet another sign that the stage is set for a reversal.
If these on-chain signals hold true, and Shiba Inu follows its proven patterns, a stunning rally seems inevitable. But beware, my fellow crypto warriors, for the rise of newer meme coins has begun to steal the limelight, drawing capital away from older tokens. Will Shiba Inu manage to reclaim its crown, or will it be relegated to the annals of forgotten coins? Only time will tell.
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2025-05-01 12:58