The TD Sequential indicator has given a buy signal on Shiba Inu’s weekly chart. Similar signals in the past led to a 100% increase in the memecoin’s price.
The recent Bitcoin price rally received significant support from the altcoin market, particularly from top performers like Solana, Ethereum, and XRP. Analysts anticipate that two popular memecoins, Dogecoin and Shiba Inu, may soon join the ongoing altcoin price rally.
A crypto analyst, Ali Martinez, has pointed out that the TD Sequential indicator recently issued a buy signal for SHIB on the weekly chart. It’s important to note that the last two times such bullish signals appeared, SHIB’s price surged by 118% and 71%, making this a critical moment to watch.
Courtesy: Ali charts
In the past week, SHIB’s price increased by nearly 8%, while other top 20 altcoins recorded double-digit gains. This suggests that SHIB has room for further growth.
In an unexpected development, Shiba Inu (SHIB) has experienced a remarkable increase in token outflows, rising by a staggering 3,033% in just 24 hours.
Data from IntoTheBlock reveals a remarkable increase in the number of SHIB tokens leaving the wallets of major SHIB holders. This number has skyrocketed from 16.87 billion to an astonishing 511.37 billion SHIB almost overnight.
Courtesy: IntoTheBlock
Simultaneously, there has been a significant decrease in the daily tokens flowing into these whale wallets. It has dropped from 4.59 trillion tokens to just 262.41 billion in the same short period, adding to the intrigue of this unusual activity.
Dogecoin Poised for a New Uptrend
Similar to Shiba Inu, Dogecoin is also gearing up for a potential uptrend towards the $1 mark, according to crypto analyst Ali Martinez. Martinez noted that Dogecoin appears ready to start a new uptrend.
On the weekly chart for Dogecoin, the TD Sequential indicator has produced a buy signal. If Dogecoin’s price can stay above $0.062, it could open the path for a move towards $0.070.
Courtesy: Ali Martinez
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
