Trading Volume Soars 50%: Can Shiba Inu Reclaim $0.000020?

1. Overview of On-chain Trends

• Active addresses increased: On-chain data shows that the number of active addresses for SHIB increased by 18% daily, indicating a rise in user trading frequency.
• Whale wallet activity: Several large addresses transferred SHIB to exchanges, which may indicate short-term cashing out or liquidity preparation.
• Burning mechanism maintained: There are still SHIB being burned daily, although the scale is not large, it provides positive support for deflationary expectations.

2. Volume surged significantly interpretation

The volume increased from 340 million USD to 519 million USD, indicating a simultaneous increase in the number and sentiment of market participants. FOMO sentiment is spreading within the community, especially when the coin price rapidly breaks through key levels, leading to a large influx of new buyers.

3. Price Trend Review

• 24-hour fluctuation range: 0.00001368 ~ 0.00001479 USD
• Current price: approximately 0.00001441 USD

The price structure shows a “W-shaped” rebound pattern. If this trend continues, it may be able to form higher lows in the future.

4. Long and Short Game and Key Indicators

• KDJ Random Indicator: The J value continues to run at a high level, indicating strong buying pressure but also suggesting a need for adjustment.
• OBV (On-Balance Volume): Continuing to rise, indicating that funds are net inflowing into the SHIB market.
• Good volume-price cooperation: The volume supports the price increase, providing momentum for the rise.

5. Long-term and Short-term Goal Forecasting

• Short-term goal: If it stabilizes at 0.00001450, it could challenge the 0.00001550 range.
• Medium-term goal: If aligned with the overall bull market sentiment, it is expected to test the 0.00002000 USD level in August.
• Support line: If the price falls below 0.00001380, it will create a short-term weakening signal.

6. Operating Strategies and Risk Warning

• Entry suggestion: It is not a good time to chase highs; it is recommended to gradually position when the support line is retested.
• Take profit reference: 0.00001500~0.00001580 range can be used for short-term take profit strategy.
• Stop-loss mechanism: Set the stop-loss at 0.00001350 USD to prevent deeper drawdowns.

Warm reminder

Investing in meme coins requires position control, focusing on trends and minimizing FOMO. It is recommended to make judgments based on the overall market direction to avoid blind operations on a single coin.