Shiba Inu [SHIB] has started the year with a big 30%+ move! At first glance, it looks like just another memecoin surge, but there’s more to it that’s worth taking a good look at.
What’s holding up this big rally?
Pace, but not enough faith?
The recent surge is backed by clear pace. Price has pushed above key short-term MAs, with clear indication of buying interest. RSI showed strong but stretched momentum.
The move happened quickly after while of sideways action, which often attracts short-term traders rather than long-term holders.
Source: TradingView
While the breakout is technically valid, it doesn’t look like it is backed by deep structural demand. This makes the next phase critical to figure out whether SHIB can hold these levels or fade in time.
Who’s behind the surge?
There’s been steady buying by mid-sized holders, particularly wallets holding between 1,000 and 100,000 SHIB. This bracket has been trending upward for months.
Source: Santiment
At the same time, the largest wallets are no longer aggressive, while smaller retail wallets appear more reactive.
When mid-tier holders buy steadily during price strength, they’re usually confident in the short-term future. This doesn’t guarantee upside, but it proves that the rally isn’t completely baseless.
A structural support may not be there right now, but it sure is building.
Here’s another clue…
Source: Shibarium Scan
Shibarium data showed a rise in total transactions over recent weeks, so the activity is fairly consistent rather than a quick spike.
Transaction fees, paid in BONE, have also seen repeated jumps, so users are actively interacting with the ecosystem. While active account counts have fallen from earlier peaks, they remain stable.
Source: Shibarium Scan
SHIB’s move is most definitely backed by confident users. For the rally to sustain, this engagement will need to continue, because this matters just as much as price momentum itself.
Final Thoughts
- SHIB’s 30% rally is caused by momentum and mid-sized holders buying.
- Sustained ecosystem activity will decide whether this move holds.
Source: https://ambcrypto.com/shiba-inu-jumps-30-but-why-does-shibs-current-rally-look-different/