Leading meme coin Shiba Inu has recorded some stability and price recovery over the past five days. SHIB regained 11% since dropping to its three-month low on Tuesday, March 11.
The recovery comes amid a notable increase in the average holding time among SHIB traders, indicating growing confidence in the meme coin’s long-term potential.
Shiba Inu Investors Extend Holding Period
The length of time SHIB traders hold their coins before selling or transferring has surged in the past week. According to IntoTheBlock, it has increased by 30% during this period.
This particular metric tracks the average duration investors hold their tokens before selling. A longer holding period, as seen with SHIB, signals stronger investor confidence as holders resist the urge to sell.
This trend will ease selling pressure for Shiba Inu, supporting further price appreciation in the near term.
Notably, SHIB’s Balance of Power (BoP) indicator on the daily chart remains in positive territory, reinforcing the bullish outlook. At press time, the momentum indicator is at 0.04.
The BoP measures the strength of buying versus selling pressure in a market. When an asset’s BoP is positive, it indicates that buyers are in control. This trend suggests increased SHIB accumulation and hints at the likelihood of the continuation of the meme coin’s uptrend.
Strong Money Flow Signals Potential Rally to $0.000014
On the daily chart, SHIB’s positive Chaikin Money Flow (CMF) supports the bullish outlook above. As of this writing, the momentum indicator is at 0.08 and is in an upward trend.
The indicator measures the flow of money into and out of an asset. When its value is positive, buying pressure is dominant. It means more traders are accumulating the asset rather than selling it.
This signals strong demand for SHIB and suggests continued bullish momentum in the meme coin’s market. If buying pressure remains high, SHIB’s price could rally toward $0.000014.
Conversely, if traders resume profit-taking, SHIB would shed some of its recent gains, and its price could fall to $0.000010.
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