Shiba Inu price moves have been on a rollercoaster this year, with varying factors such as the spike in burn rate and whales’ activity rising significantly. However, while some investors continue to pour funds into new SHIB investments, others fear that the Shiba Inu price could have peaked with no possible rise.
While this debate continues with fluctuating fear and greed among the SHIB investors, a new token is rising with a 32x projection and is already stealing the spotlight.
Here is a breakdown of the Shiba Inu price projection to clarify where to go from here and provide an alternative in case the worst happens.
Is Shiba Inu Price Still Consolidating or A Breakout in Sight?
Taking a shift directly into the Shiba Inu price action, the recent performance has been dropping mixed signals, with the price moving sideways but showing a potential to break out.
The daily price chart indicates that the Shiba Inu price has maintained a move between $0.00001275 and $0.00001010 since May, and holding $0.00001190 is a key support.
While this looks unimpressive, this range has consistently held on even in the face of a market-wide sell-off, which has continued to push the narrative of a potential breakout.
Can Whale Accumulation Help Shiba Inu Break Current Consolidation
While the Shiba Inu price has continued to head for the key support at $0.00001190, the recent whale activity has been a central point of concern with the price’s slow movement. A reported big whale in mid-June saw an accumulation of about 10.4T SHIB (totalling $110M), but this was enough to bring the meme coin out of the consolidation.
This poor reaction to whale buying led to a sharp drop in whale transactions by the end of June, which now points to potential caution from the whales. As of this writing, the Shiba Inu price remains in a consolidation for the second month, trading at $0.0000118, and might continue sideways or worse, downward, without a significant rise in whale buying.
Could Remittix Give The Breakout For Investors?
As Shiba Inu continues dealing with a breakout issue, there is a rising shift from the whales towards a more rewarding alternative, and it currently looks like it is Remittix. Backed by the real-world utility silently spreading into every corner of the crypto world, analysts believe Remittix might be heading for a 32x surge this year.
This is as Remittix continues to attract the interest of whale funding and rising adoption following its crypto-to-fiat solutions, which are projected to change crypto spending. While there is uncertainty about a Shiba Inu price breakout soon, analysis shows that Remittix could be ready for a 32x surge in the coming weeks.
Discover the future of PayFi with Remittix by checking out their presale here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
This article is not intended as financial advice. Educational purposes only.
