Shiba Inu [SHIB], the world’s second-largest memecoin, witnessed a major setback last week as its price dropped to $0.000013.
, the world’s second-largest memecoin, witnessed a major setback last week as its price dropped to $0.000013. However, it later gained upward momentum but couldn’t sustain that trend for long.revealed that after reaching last week’s lowest, SHIB turned bullish and reached the weakest highest of $0.0000174. In the last 24 hours, SHIB’s price increased by more than 1.5%.
While that happened, its supply outside of exchanges increased, hinting at a rise in buying pressure.The supply held by the top non-exchange addresses also increased last week, indicating non-exchange whales’ intention to accumulate Shiba Inu.Apart from the rise in buying pressure, the memecoin’s derivatives metrics also looked pretty bullish. AMBCrypto’s look at Coinglass’ data revealed SHIB’s Long/Short Ratio increased.
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