Shiba Inu's Resilient Holders Drive Hopes for a New All-Time High
Despite recent market underperformance, Shiba Inu (SHIB) loyalists are steadfastly holding onto their tokens, signaling strong conviction among the community. This unwavering support could pave the way for the meme coin to achieve a new all-time high of $0.00009, igniting excitement among SHIB bulls.
Unwavering Loyalty: Small Holders Accumulate Amid Volatility
On-chain data from Glassnode reveals a striking trend: Shiba Inu's holder retention rate stands at an impressive 96%, maintaining an upward trajectory over the past month. This indicates that a significant portion of SHIB investors are not selling, but rather actively accumulating more coins. Further supporting this sentiment, Santiment data confirms continued accumulation by investors, with the total number of SHIB holders surging to 1.53 million. This collective resolve to hold is crucial as the meme coin aims to establish a foothold above the critical psychological price level of $0.000010.
Whale Activity and Market Dynamics
While small holders remain resolute, a contrasting picture emerges regarding Shiba Inu "whales"—those holding 10 million coins or more, who collectively control over 98% of the total supply. Sentiment data shows these large holders have been offloading their positions during SHIB's underperformance, leading to more exchange inflows than outflows. On September 5, inflows totaled 73.73 billion SHIB against 46.25 billion outflows, indicating an excess of supply over demand. This behavior suggests whales are currently on the sidelines, observing rather than actively buying the dip.
Bullish Forecasts Point to a Potential Price Surge
Despite the cautious stance from whales, the technical outlook for SHIB remains bullish. Crypto analyst Javon Marks has provided an optimistic forecast, predicting a potential rally exceeding 500% that could push the token close to its current all-time high of $0.00008845. Marks' analysis, based on a bullish pattern in a regular bull divergence with the MACD Histogram, suggests an imminent major bullish reversal. This could initially see SHIB surging over 163% back into the $0.00003 range, potentially marking just the beginning of a larger 570% run towards a $0.000081 breakout target, provided the price maintains its breakout from an older structure. At the time of writing, Shiba Inu trades around $0.00001230, reflecting a positive movement over the last 24 hours.
