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Shiba Inu $929M Surge Sparks 62% Rally, App Teased

A Shiba Inu price rally momentum is building right now as exchange reserves surge to an impressive $929 million in just 24 hours, and developers are also teasing a revolutionary Shiba Inu Super App. Technical analysis reveals potential 62% gains if support actually holds, with the Shiba Inu reserves surge and Super App developments driving renewed optimism. The SHIB price breakout appears pretty likely as the token approaches critical support, which suggests the Shiba Inu $0.000015 prediction could materialize sooner than expected.

Also Read: Major Platform Predicts Shiba Inu (SHIB) To Rise 108,000%

Shiba Inu Price Rally Fueled by Reserve Surge and Super App Buzz

Shiba Inu beach
Source: Watcher Guru

The Shiba Inu price rally gained some serious momentum as exchange reserves jumped to an enormous $929 million within just 24 hours, according to CryptoQuant data. This massive Shiba Inu reserves surge also happened to coincide with a 7.66% price increase, pushing SHIB to $0.00001112 at the time of writing.

SHIB double bottom technical pattern
SHIB double bottom technical pattern – Source: TradingView

Binance led the exchanges with $1.02 million in net inflows, followed by Bybit at $288.40K and also Coinbase at $218.99K. The substantial reserve activity pretty much indicates institutional positioning for potential price movements right now, and it also signals growing interest from larger players in the space.

62% Rally Target from Technical Analysis

Technical analyst Tom Tucker identified what looks like a compelling double bottom formation on SHIB’s daily chart, with the Shiba Inu price rally potentially targeting 62% gains if support actually holds. SHIB crashed to $0.00001004 on Sunday but then quickly recovered to $0.0000107.

Tom Tucker stated:

“$SHIB crashed 7.5% to $0.000011 as geopolitical tensions spooked markets. Down 38% from May highs, with whale holdings -80% and futures OI at a 1-month low. TA shows deep oversold levels, but a double-bottom near $0.00001030 could spark a 62% rebound if support holds.”

The analyst emphasized that maintaining support above $0.00001030 could also trigger a rally to $0.00001752, which represents the Shiba Inu $0.000015 prediction pathway. This SHIB price breakout depends on technical formation confirmation right now, and it also requires sustained buying pressure at these current levels.

Super App Development Transforms Ecosystem

Shytoshi Kusama revealed the ambitious Shiba Inu Super App during a recent Spotify podcast. The all-in-one platform will integrate Play-to-Earn games, Web3 social networking, and also metaverse projects.

Shytoshi Kusama stated:

“We’re just one killer app away for turning this whole thing upside down.”

The Shiba Inu Super App represents a pretty fundamental shift from meme coin to comprehensive Web3 platform. The application leverages the Shiba Alpha Layer for enhanced functionality, while also providing developers with API keys and private RPC endpoints at the time of writing.

Market Dynamics Support Bullish Outlook

Trading data reveals open interest rising 5.59% to $130.01 million while volume actually decreased 10.38% to $193.03 million. This combination supports the current Shiba Inu price rally narrative right now, and it also suggests consolidation before potential upward movement.

SHIB Elliott Wave analysisSHIB Elliott Wave analysis
SHIB Elliott Wave analysis – Source: X

Traders on Binance and also OKX exchanges are taking more long positions with ratios at 1.0538 and 2.28 respectively. The SHIB price breakout thesis gains credibility as the Shiba Inu reserves surge provides necessary liquidity for sustained moves, and it also creates favorable conditions for institutional participation.

The Shiba Inu Super App timeline remains unconfirmed but it may coincide with Shibarium’s Layer-3 launch. This could validate the Shiba Inu $0.000015 prediction through utility-driven demand at the time of writing, and also establish SHIB as a legitimate Web3 platform.

SHIB recent price chart
SHIB recent price chart – Source: CoinMarketCap

Also Read: Can the 1200 DApps on Shibarium Take Shiba Inu to $0.0001?

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