Shiba Inu investors predict 70% rise
The Shiba Inu (SHIB) has had a challenging week. This is because it lost around 13% of its value. Even with the drop, a group of enthusiasts showed confidence in memecoin, expanding their holdings steadily in recent weeks.
However, short-term holders are selling their SHIB, putting downward pressure on the price. This assessment investigates how the trading activity of SHIB's STHs could block any significant advances in the short term.
In the midst of all this, an ongoing pre-sale suggests great gains, especially for early investors. Flockerz (FLOCK) has already raised more than $475,000 and is almost moving on to the next stage.
Shiba Inu faces challenge with short-term keepers
A set of investors who hold between 10,000 and 100,000 coins have expanded their holdings in recent weeks. This is the Shiba Inu supply analysis. Large SHIB owners now own 3.06 billion SHIB. A growth of approximately 2%.
The choice to accumulate more SHIB tokens may have been driven by the memecoin's status during the month of September. This was evidenced by its relationship between market value and realized value (MVRV).
According to this metric, SHIB's 30-day and 90-day MVRV indices showed negative values for most of September. This could indicate that the cryptocurrency was trading below its historical value. This may have been one of the reasons that led these investors to acquire more coins.
However, SHIB STHs, which have held their coins for less than 30 days, are bringing challenges. This is because they have opted for a more cautious approach and they have been trading their coins recently.
In addition to sales activity
The selling activity is notable, as STHs are often risk intolerant, releasing their assets at the slightest hint of difficulty. Due to its holding of a significant portion of SHIB's circulating supply, its selling activity exerts considerable downward pressure on the value of the token.
Decreasing SHIB on-balance-sheet volume (OBV) indicates selling activity of SHIB STHs. Memecoin's OBV, which assesses buying and selling pressure based on transaction volume, has maintained a declining trend since the beginning of the month.
In this sense, a declining OBV is usually a bearish signal, indicating a possible decline in price. When it is accompanied by a price drop, it indicates the lack of support from the buyer. If demand for SHIB continues to fall, it could return to its August 5th low of $0.000010.
However, if STHs start accumulating the tokens for longer, it could result in a 69% increase in the value of Shiba Inu, testing the resistance set at $0.000028.
Earn rewards by participating in decisions on the Flockerz (FLOCK) platform
Flockerz allows people to earn rewards by participating in its vote-to-earn activities to boost the platform. This aims to grant autonomy to users, allowing them to actively participate in decision-making and the development of the Flocktopia ecosystem.
The cryptocurrency initiative is reshaping decentralization by taking decisions away from a small, select group and empowering its entire community.
At the heart of the project is Flocktopia, a Decentralized Autonomous Organization (DAO), in which each FLOCK token owner has a voice and benefits through the vote-to-earn system.
Tokenomics do FLOCK
The FLOCK token was made available in pre-sale to ensure the progress of the platform and its plans. 20% of the tokens were allocated for pre-sale, 25% were stored in the DAO Vault and 20% were allocated for various marketing actions, as the project gains global popularity.
Additionally, 25% of FLOCK tokens will be reserved for staking, while 10% will be allocated for liquidity on centralized and decentralized exchanges after the pre-sale period.
The FLOCK token provides an affordable entry, with a current price of just US$0.0057012, considering that the value of the token is expected to continue to rise throughout the various pre-sale phases.
Projects of this type often explode after launch, due to investor enthusiasm for the tokens. FLOCK has the potential to expand, thanks to its usefulness, evidenced by its vote-to-earn system, which keeps users involved and encourages future-focused decisions.
To purchase the FLOCK token, visit the pre-sale website. Then, choose between “Buy Now” or “Connect Wallet” to select the wallet you want to use. Wallet Connect, Best Wallet, MetaMask and Coinbase Wallet are some of the alternatives available.
It is also possible to purchase with BNB through the Binance Smart Chain (BSC) and the project team suggests purchasing on Ethereum to participate in FLOCK staking and generate passive income.
Disclaimer: This article is for informational purposes only, and does not constitute investment advice or an offer to invest. CriptoFácil is not responsible for any content, products or services mentioned in this article.