SHIB Price Brace For Impact as Second Liquidity Run In Less Than a Month Sparks Price Swings
The Shiba Inu price has experienced a successive four-day increase, indicating market strength for the meme coin. This rise follows a recent liquidity run, in which market makers drove the price below key support or resistance levels to capture trapped liquidity.
The current uptrend in SHIB’s price could potentially lead to an additional 8% increase in weekly gains, given favourable market conditions. This positive movement aligns with growing optimism in the broader crypto market, with analysts speculating on the potential for Bitcoin to reach the $100K milestone driven by institutional adoption and increasing demand.
SHIB Liquidity Runs
Liquidity runs, characterized by rapid movement through key levels due to significant buying or selling pressure, have benefited the price of Shiba Inu. They can lead to increased volatility and significant price movements, creating trading opportunities due to the breaking of established market structures.
For instance, the Shiba Inu price chart indicates two liquidity runs on August 22-26 and September 5-8. These events have led to increased volatility and significant price movements, creating potential entry opportunities for investors.
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Whale activity, as seen through large transaction volumes, has significantly increased over the last 24 hours. This surge in activity, whether through buying or selling, indicates heightened interest among large holders. Notably, on September 9, there was a 164% spike in large holder inflows, indicating potential buying activity by whales. Additionally, the recent recovery from the liquidity run on September 5-8 may have prompted large holders to buy in substantial amounts.
Despite a 1.4% decrease in the last 24 hours, with SHIB trading at $0.00001321, investor and large holder buying activity suggests anticipation of a forthcoming price increase.
SHIB Increasing Buying Strength
Candlestick analysis reveals increasing buying strength in the last four days, indicating strong market recovery from the liquidity run. Although SHIB has almost neutralized the gains made in the last week, it has returned to a consolidated state, indicating potential for a rally to $0.00001450, an 8% move from its current price.
The resistance level around $0.00001360 may limit the current rally, but increased volatility and whale activity could potentially overcome this barrier. However, failure to maintain support above $0.00001310 could lead to a drop to $0.00001270, invalidating the current bullish scenario and potentially triggering a decline to as low as $0.00001.
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