US Congressional Candidate Excited: SHIB Is Just Getting Started!

Shiba Inu rallied 50% almost ten days after SHIB was added to Binance Card. According to US politician David Gokhshtein, this rally could be just the beginning for SHIB…

Shiba Inu (SHIB) is just getting started, according to David Gokhshtein

Former US congressional candidate David Gokhshtein reiterated that the Shiba Inu still has growth potential. The Shiba supporter made the following statements in a recent tweet:

The Shiba Inu price made the moves in Gokhshtein’s tweet last week. we have quoted the “sounding” SHIB predictions of the US politician in those days. Later, on August 14, the Shiba Inu became the biggest gainer in the market with an astonishing 35% increase from $0.0000126. SHIB rallied above $0.0000131 from July 20 before reversing course. Then, it hit the highs of $0.0000179 on August 15.

SHIBUSDT 2022 08 15 16 59 31

A notable technical pattern is developing on the SHIB chart

If the break indicated by the inverted head and shoulders pattern on the daily chart is confirmed, analysts say the Shiba Inu will continue to rally. The uptrend sometimes starts with an upside down or inverted head and shoulders pattern. Meanwhile, it is still unclear how Shiba will act due to macroeconomic concerns in the Bitcoin market.

SHIBUSDT 2022 08 15 17 01 27

While gains stabilized before resuming, the daily RSI dropped well above 60 from the overbought 80 level. This suggests that the bulls still have some advantage. If SHIB continues its current move, it will revert to its previous range with support near $0.000102. The Shiba Inu is currently holding a marginal drop to $0.0000155 as investors continue to take profits. However, it should be noted that despite this, it has kept its earnings around 4% for the last 24 hours. On-chain data shows that this power is exclusive to Shiba.

On-chain data reveals explosive power for Shiba Inu

According to data from IntoTheBlock, 463 significant transactions took place in the past day. SHIB saw a staggering 1.554% increase in transactions. Typically, large transactions are those over $100,000. Sudden spikes in such transactions are sometimes linked to an increase in the activity of buying or selling whales.

On-chain analytics firm Santiment also stated:

While the market was relatively flat the previous day, the Shiba Inu is up 34%. This is no coincidence. There were 433 sales totaling $100,000 or more, which is a 4-month high.

On the other hand, according to the Shibburn website that tracks the burning tokens, only 141 million SHIB were sent to the dead wallet during this time. Meanwhile, the token burn rate was down around 51% compared to the previous day.

Disclaimer: The articles and articles on AmkNews do not constitute investment advice. does not recommend buying or selling any cryptocurrencies or digital assets, nor is AmkNews an investment advisor. For this reason, AmkNews and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.

Warning: Citing the news content of AmkNews and quoting by giving a link is subject to the permission of AmkNews. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of AmkNews in violation of intellectual property law and relevant legislation.

Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing site 3 months ago.