74 Trillion SHIB About to Get Active in 24 Hours
Shiba Inu (SHIB) is gearing up for a potential market shift, with 74 trillion SHIB expected to become active, based on profitability metrics and on-chain data. Key addresses are moving into profitable zones, which could lead to a significant shift in SHIB's price dynamics.
Recent data shows that 62% of SHIB holders are in profit, indicating strong investor confidence. As price levels rise, active addresses are becoming more engaged, reducing selling pressure and stabilizing the price. If SHIB continues its upward trend, it could trigger profit-taking, further affecting the price.
The SHIB price chart shows the formation of a bullish triangle, recently breaking the $0.000026 barrier. This breakout suggests SHIB might target the next resistance level around $0.000030. If momentum continues, more ambitious price targets could be within reach.
However, the 200-day moving average at $0.000022 remains a crucial support level. If SHIB fails to stay above this, it may enter a consolidation phase, potentially reversing the current bullish outlook.
Overall, the market sentiment for SHIB remains positive, with over $1.03 billion in transactions over the past week fueling optimism.
