Shiba Inu (SHIB) price is recovering from its recent losses, trying to break through a key resistance level that could open the door to significant gains for its holders. The meme coin has shown signs of resilience, and its success in breaking through this hurdle could generate over $7 billion in profits for investors.
As SHIB approaches critical price points, the market mood is changing, with many anticipating a potential rally.
Shiba Inu Investors Have Profits on the Horizon
The Global In/Out Metric (GIOM) indicates that approximately 416 trillion SHIB, worth over $7 billion, are currently waiting to be made profitable. This SHIB supply was acquired when the price was between $0.00001800 and $0.00001900. Therefore, a 25% increase is required to return this supply to profitability.
This consolidation near critical price points reflects growing optimism among SHIB holders. If Shiba Inu can maintain the upward momentum and break through key barriers, the potential for further gains could fuel further buying pressure, pushing the meme coin to higher levels.
Despite the positive sentiment, Shiba Inu’s overall momentum suggests a more cautious outlook. The Network Value to Transactions (NVT) ratio suggests that SHIB may be overvalued at current levels. A rise in this metric indicates that the network value exceeds the transaction volume, often resulting in a disconnect between price and underlying activity.
Historically, assets with high NVT tend to see price corrections, as overvaluation creates an unsustainable environment for continued growth. If Shiba Inu’s price action fails to align with its transaction value, the market could see a pullback, potentially derailing the meme coin’s recovery efforts.
SHIB Price Prediction: Gains in the making
Shiba Inu is currently trading at $0.00001687 at the time of writing and is testing the support at $0.00001676. A successful bounce from this level could push the price towards $0.00001961, recovering the 20% losses incurred during the September crash. Reaching this point would reclaim some of the lost ground, bringing renewed optimism to the market.
However, for Shiba Inu’s $7 billion market cap to become profitable, the meme coin would need to break through $0.00001961 and rise to $0.00002093. A rise to this point would represent a 25% gain. This level is crucial to unlock the expected gains and maintain the bullish momentum.
If the rise in NVT reduces the buying pressure, Shiba Inu may lose the support at $0.00001676 and drop to $0.00001462. This drop will negate the meme coin’s chances of organizing a rally, and will also remove the possibility of making profits for holders.
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