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While over the 61.8 percent Fibo barrier, the Shiba Inu price is heading north towards $0.0001.
As $0.0001 looms, Shiba Inu bulls prepare for another record rise.
Eight whale accounts control over 71 percent of SHIB’s circulation.
Bulls in SHIB are optimistic as long as the price remains above the 61.8 percent Fibo mark.
As the bulls break the corrective retreat and prepare for a new run higher, Shiba Inu is aiming to reignite the record rally.
SHIB price is up slightly on Saturday, building on Friday’s gains, with a week-to-date gain of 110 percent.
Shiba Inu’s market valuation has overtaken that of its competitor, Dogecoin, in the last week, and it now ranks eighth among the most commonly traded digital currencies.
According to Into the Block, a stunning 70.52 percent of SHIB’s circulation is concentrated in the hands of eight whale accounts, with one whale accounting for 41% of the total.
SHIB/USDT is now trading close below the $0.0000750 mark, up 0.60 percent on the day, and fluctuating within a narrow range.
