Shiba Inu has rebounded slightly following Bitcoin’s recovery, though it’s still in the red on all major timeframes, reflecting a strong bearish trend. At the time of writing, Shiba Inu (SHIB) sells for $0.000018, following a 2.6% intraday decrease, bringing its weekly and monthly losses to 10% and 11.5%, respectively. As the cycle progresses, investors are becoming wary of meme coins and their inherent susceptibility to volatility, however, Shiba Inu flips the script, as its shift toward utility positions it as a strong contender in the DeFi space.
Whale accumulation has surged as well, indicating growing confidence in its long-term performance. Large holders have increased their stakes from 400 billion to 665 billion SHIB, hinting at potential price action. Analysts predict SHIB could double in value by 2025-2026, as its price action is closely related to that of Bitcoin, which is expected to soar consistently in the upcoming months.
Valuation aside, on the technical front, Shiba Inu continues to make strides. Just the other day, Shiba Inu launched an upgraded Swap and Bridge platform on Shib.io, enhancing cross-chain capabilities, and integrating Shibarium with multiple networks.
