#加密市场盘整 Shiba Inu Coin (SHIB) is currently in a difficult situation. Is it true that 350 trillion SHIB is about to crash?

#Christmas Market Analysis

This once-popular cryptocurrency has recently seen a harsh price drop. The market is fluctuating and reshuffling, with a large outflow of RMB funds, causing the SHIB price to drop directly to $0.000021.

This price is significant as it is a key support level for SHIB and a focal point for many investors. Let's dig into the on-chain data; there's more to uncover. According to IntoTheBlock, at this price level, retail investors have accumulated over 362 billion SHIB across 270 addresses. If it drops to $0.000019, 54350 addresses holding 539.1 trillion SHIB, worth $1.19 billion, may have to sell.

Looking back, when it dropped to $0.000026, 119490 addresses contained 894.7 trillion SHIB, worth $1.97 billion, which would incur losses (excluding those who bought at lower prices).

In this case, the potential selling pressure on SHIB exceeds 355 trillion, which is almost the same as the current price. It's uncertain how this pressure will impact SHIB's price.

As the end of the year approaches, with Christmas and New Year holidays coming, the balance may tip. Several hundred million dollars in sell orders might overwhelm buyers, and SHIB is under significant pressure.