[Shiba Inu (SHIB) Profitability Hints at Possible Rise in the Future]
Shiba Inu Coin (SHIB) is currently on the verge of breaking out, but recent bearish conditions have slowed its upward momentum. Data from the encryption analysis platform IntoTheBlock (ITB) pointed out that the number of profitable addresses of Shiba Inu Coin reached 902,960, accounting for 67.23% of the total network, showing a possible upward trend in the future.
The data also shows support at $0.000023, where 76.6 terabytes of SHIB are held by 84,740 addresses. In contrast, $0.000033 is the main resistance level with 20.97 trillion SHIB held by 137,600 addresses.
In addition, SHIB’s main growth drivers include large-holder activity, token burning, and Shibarium adoption. The volume of large transactions worth over $100,000 increased by 179.48% to $163.12 million in 24 hours. An increase in these large transactions signals the possibility of supply shortages, helping to drive up prices.
At the same time, the massive burning of SHIB and the active transactions on the Shibarium protocol show the healthy vitality of the network, which is expected to attract more users to participate in the long term.
