SHIB Price Rallies 18% This Week as Bullish Sentiment Fuels Further Upside Potential
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Shiba Inu (SHIB) price has rallied 18% this week as buyers seize control of the market based on on-chain data.
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Number of SHIB buyers has exceeded sellers for over 35 days, implying bullish sentiment.
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If buying pressure persists, SHIB could reach $0.00002 next. Initial resistance at $0.000011 where many buyers had previously purchased.
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SHIB remains in a clear uptrend with 60% of holders now in profit. Less inclination to sell supports further gains.
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Initial support if SHIB corrects lower is around $0.000008 where buyers had accumulated previously. Below $0.000006 would put bears back in control.