40 trillion Shiba Inu coins (SHIB) have strong support and are ready to take off. Will the next moment disrupt the crypto market?
The IOMAP indicator shows that there is a massive support of 40 trillion SHIB in trading. If it continues to drop, strong support will be triggered at around $0.000022.
This price level is significant, as 23,170 addresses have accumulated SHIB in this range, resembling a bull market fortress. Past experiences indicate that such support groups can establish a solid foundation for a significant asset rebound.
Once the price of SHIB approaches this area, it is expected to serve as a springboard to alleviate the pressure of selling, creating upward opportunities for bulls, and the subsequent direction is worth close attention.
The current price of SHIB is $0.00002236, slightly above the key support area (as shown by IOMAP). In the daily chart, the 100 EMA helps stabilize its price.
To return to an upward trend, it needs to break the resistance at $0.000025. Currently, trading volume is sluggish, adding uncertainty and limiting its ability to break through, but it also suggests that bearish sentiment is weakening.
Therefore, the battle between sellers defending $0.000025 and buyers entering at $0.000022 will determine SHIB's direction.
If the price continues to drop, the activation of support at $0.000022 can stabilize and build a foundation;
If there is no strong external force, it will be difficult to break this level due to high trading volume.
Thus, this area may present an opportunity for investors. Conversely, if it breaks down, it would indicate a bearish trend, possibly testing $0.000020.
In summary, SHIB's short-term key lies in defending the $0.000022 support. If maintained, a price increase can resume; if broken, it may continue to decline.
