Shiba Inu, a meme-based cryptocurrency, has experienced a 60% surge over the past month, attracting significant market attention. Despite some minor corrections, the cryptocurrency shows a strong bullish trend, signaling potential for further appreciation in value as we approach 2024.
Notably, the concentration of large holders stands at 73%, which is indicative of robust investor confidence in Shiba Inu. This high level of concentration supports the ongoing rally and suggests that Shiba Inu has the potential to sustain its upward momentum in the near future.
If this trend continues, Shiba Inu is poised for a breakout that could potentially trigger a 100% price rally, effectively doubling its current market value. Such a development would align with the trajectory seen in recent weeks, further solidifying Shiba Inu’s position in the cryptocurrency market.
