What is the reason that helps Shiba Inu (SHIB) about to "break through"?

Analyst GehavianGoals predicts Shiba Inu (SHIB) will maintain its bullish momentum, with a bounce back from a key resistance level and strong market activity.

Meanwhile, the price of SHIB has experienced significant fluctuations, with strong growth after July 12.

This memecoin has experienced a bullish trend from the bottom level of $0.0000129 to reach $0.0000146 and is currently trading around $0.00001458, up 8.6% in the past week.

With this positive performance, analysts believe that Shiba Inu may continue its bullish trend in the coming weeks.

SHIB Price Trends and Analysts' Predictions

The recent bullish trend of SHIB has attracted the attention of many analysts, with GehavianGoals expressing confidence in the continuous growth momentum of this token.

Analysts believe Shiba Inu will soon "soar", with a price target set at a new peak.

SHIB price prediction | Source: TradingViewThe analyst points out that the bounce back of the token from the important resistance level on the weekly chart is the main catalyst for the recent bullish trend.

The fact that SHIB has repeatedly tested and rejected lower price levels further strengthens its sustainable growth momentum.

Notably, the continuous testing of the support level $0.000011 without sliding below this level reflects the ability to bounce back.

After bouncing back from the support level, SHIB continues to challenge the resistance level since December 2024, although only for a short time.

However, with each test of the support level, the price has bounced back, a key characteristic and condition of the bullish market.

GehavianGoals' analysis suggests that the next bullish phase could target the highest level in 21 months, estimating a potential price of $0.00003352.

Network activity increase

Another important factor supporting the bullish momentum of Shiba Inu is the increasingly active level on the network of this token.

According to recent data from IntoTheBlock, user interaction with the SHIB network has increased significantly. Specifically, the number of new active addresses (New Active Addresses – NA) has increased by 39.95%, indicating that attention towards Shiba Inu is growing and more users are interacting with this token.

The number of daily active addresses for Shiba Inu | Source: IntoTheBlockAdditionally, the number of daily active addresses (Active Addresses – AA) also increased by 35.07%, further reinforcing the evidence of the increase in users' regular participation in the SHIB ecosystem.

However, not all metrics are straightforward to interpret. The number of addresses with a zero balance (Zero Balance Addresses – ZBA) also increased by 38.90%.

Although it may seem confusing, this increase may indicate that users are continuously transferring assets in and out of wallets, or that the SHIB token is being used more frequently in transactions or decentralized applications.

Behavior of Long-term Investors and Positive Signals

In the report on July 16, data shows that long-term SHIB investors still maintain their confidence and are not in a hurry to sell off.

The "Age Consumed" index, which reflects the amount of old tokens being transferred, remains low – this is seen as a positive signal, indicating that long-term holders have no intention of exiting the market.

In the past, whenever this index surged, it was often a sign of a new price peak – as happened at the end of 2024. The current lack of any sudden surge indicates that long-term investors still have confidence in the outlook for SHIB.

In other words, long-term holders continue to hold due to the expectation that prices will remain bullish. This sentiment is contributing to the positive trend around SHIB.

If these investors continue to hold their positions in the near future, it is likely that the bullish momentum of SHIB will be reinforced and extended further.

Vincent

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