Analysts see Shiba Inu price rallying 30% as a falling wedge forms amid rising whale activity and exchange outflows despite a failed rebound.
Yesterday, Shiba Inu price made an unsuccessful attempt to recover.
Today, August 5, SHIB is trading at $0.0000127, down 0.27% over the past day.
However, according to an analyst, Shiba Inu can reach $0.000016.
His prediction coincides with an increase in exchange outflows and whale trades.
Analyst Notices Wedge Pattern, Shiba Inu Prepares For 30% Surge
Because of the developing falling wedge pattern, analyst SHIB Knight thinks SHIB can hit $0.000016.
This pattern frequently indicates a change in momentum, but only if the price breaks above resistance.
By itself, it does not ensure a rally.
Now, that breakthrough is underway.
Shiba Inu price is already above the upper line of the wedge, according to SHIB Knight, suggesting that the token may be preparing for a more significant increase.
The height of the support to resistance determines how much the price will increase once this pattern is formed.
According to the researcher, this might push Shiba Inu to $0.000014 or $0.000016. Should the latter occur, SHIB may see a 33% increase.
SHIB Knight did not ignore the reality that momentum is the key to this. There may be some momentum right now.
According to CoinMarketCap, trading volumes have increased by 40% during the past day.
This indicates that consumers are showing interest in these popular meme currencies.
The price of Shiba Inus will only rise by 30% shortly.
According to the long-term Shiba Inu price estimate for 2025, additional gains could be imminent.
Increase In Whale Transactions, Exchange Inflows
Lately, there have been increasing worries that SHIB whales have disappeared.
New on-chain data, though, is beginning to allay such concerns.
Now that large holders are returning, there may be a change in mood toward SHIB and fresh interest.
Whale transactions rose from 2.7 million to 26.2 million on Monday, according to IntoTheBlock data.
This indicates that they increased by over 870% in a single day.
Network activity may be the reason why whales are returning.
According to CoinGape, Woofswap has suggested an update for Shibarium.
Shibarium may speed up if this occurs. In the end, this will benefit Shiba Inu’s costs.
The number of SHIB coins being removed from exchanges is increasing.
They are now more than just the coins that are going into exchanges.
According to Coinglass data, $3.4 million worth of Shiba Inus had left these platforms in just two days.
As a result, expert SHIB Knight may be correct in his prediction that the price of Shiba Inus will rise.
This is only true, though, if the whale comeback is maintained.
Additionally, the space available for profits increases as more SHIB leaves exchanges.
SHIB will eventually join other altcoins as the cryptocurrency industry recovers.
With the Trump Tariffs and continued global issues, now is likely the best moment to begin DCA.
