- SHIB attracts significant new addresses despite the market correction, signaling sustained interest.
- Santiment data reveals strong bullish sentiment around SHIB’s growth potential.
- Technical indicators show SHIB’s short-term price remains bullish despite potential overbought conditions.
March kicked off with a bang for Shiba Inu (SHIB) as the meme coin attracted over 8.4k new addresses daily, reaching a peak of 21k new daily addresses. As highlighted by IntoTheBlock, this surge, nearly 20 times February’s daily average, reflects a notable uptick in interest despite the recent market correction. Traders, particularly bullish on SHIB, anticipate a recovery for the token amidst the broader crypto market turbulence.
Shiba Inu kicks off March with a bang, attracting over 8.4k new addresses daily & peaking at 21k new daily addresses – nearly 20x February's daily average. #ShibaInu #SHIBARMY pic.twitter.com/5hXvKfqfio— IntoTheBlock (@intotheblock) March 7, 2024
The recent market reset, catalyzed by Bitcoin’s surge to an all-time high above $69,000 on March 5, led to a significant downturn across various cryptocurrencies. However, social data from Santiment sugg…
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