Shiba Inu (SHIB) is showing renewed strength after rising 3% in price overnight, indicating its recovery is gaining momentum.
This is further supported by increased futures market activity and key bullish technical signals. Despite headwinds from large holders moving substantial amounts of the token to exchanges, investor sentiment looks like it’s improving.
The meme coin has climbed above the 23.6% Fibonacci retracement level of its May–June downturn, notching a seven-day gain of 5.4%.
Investor interest is also rising in the derivatives market. Open interest in SHIB perpetual futures on Binance surpassed 7 million SHIB for the first time since May 23, data from Velo shows.
This surge, paired with positive funding rates, indicates that traders are increasingly betting on continued price gains.
Source: Velo$SHIB: A Closer Look at Potential Price Performance This Year
Technical indicators support the bullish outlook.
The 14-day Relative Strength Index (RSI) has climbed above the neutral 50 level, now sitting at 57 – its first bullish signal since late May.
Meanwhile, daily trading volumes have surged past the average of 307.5 billion tokens, reinforcing the strength of the current recovery.
However, the rally is currently testing a key resistance level, and whale activity may present headwinds.
Blockchain data shows that just ten wallets control over half of the SHIB supply, and several have moved trillions of tokens to exchanges, sparking concerns about potential sell pressure.
Still, support remains strong around $0.00001175, where high-volume buying has repeatedly stepped in.
A recent 7.25 billion SHIB volume spike marked an aggressive test of resistance during the latest breakout attempt.
If market sentiment shifts bullish, Shiba Inu’s price could double by the end of summer.
As Shiba Inu Signals Strong Potential Growth, Investors Move Millions into Emerging Best Wallet ($BEST)
Shiba Inu isn’t the only cryptocurrency showing bullish potential. Over in the presales market, one new altcoin presale is quietly raking in millions in early funding: Best Wallet ($BEST).
Best Wallet isn’t merely a storage solution for crypto assets. It’s a full-spectrum digital finance platform, combining high-grade security with streamlined trading tools and an innovative system for uncovering promising presale projects.
So far, investor enthusiasm has translated into more than $13.7 million in early-stage capital, with that number consistently rising with the momentum.
Available on both iOS and Android, the platform integrates advanced capabilities such as DeFi portfolio management, real-time asset tracking, and yield farming—all in a single, user-friendly application.
A standout feature is its “Upcoming Tokens” tool, which enables users to spot emerging crypto projects before they hit the broader market.
Security is at the heart of Best Wallet’s infrastructure, utilizing Fireblocks’ MPC-CMP encryption technology to protect user funds. In addition, Coinsult fully audited its smart contracts to ensure transparency and reliability.
For users in search of a next-generation wallet that offers more than basic storage, Best Wallet delivers a robust, feature-rich ecosystem for navigating and growing within the crypto space.
Follow Best Wallet on X and Telegram.
The post Shiba Inu Price Prediction: Whale Activity Surges as SHIB Blasts Up – Big News Could Be Coming appeared first on Cryptonews.
