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On Sunday, SHIB experienced a strong rebound, with a single-day increase of 13%, completely breaking the previous prolonged sideways consolidation pattern. Behind this rally, the market sentiment's warming and the renewed enthusiasm in the meme coin sector have worked together.
On-chain data is also worth paying attention to. According to Santiment's monitoring, SHIB's supply distribution shows a highly concentrated characteristic, with the top ten holding addresses already hoarding nearly 63% of the total supply. What does this mean? It indicates that the actions of large holders could potentially influence the market trend.
Looking ahead, CoinCodex provides a relatively optimistic forecast. Assuming market sentiment continues to improve, SHIB is expected to reach the target of $0.00001079 in early February, which is about 16% higher than the current price. Of course, such predictions are only for reference, and the actual trend will depend on the overall market performance.