40 Trillion Shiba Inu (SHIB) Support Is Ready: What Comes Next?
Shiba Inu might see long-awaited recovery after this support gets activated
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Despite a general market slowdown, Shiba Inu has been having trouble gaining traction, but a major support level may be approaching. Supported by a huge trading volume of 40 trillion SHIB, data from the In/Out of the Money Around Price (IOMAP) metric indicates that if SHIB continues to decline, it will activate a strong support level around $0.000022.
Because 23,170 addresses have accumulated SHIB in this price range, making it a bull market stronghold, this level is crucial. These support clusters have historically given assets the stability they need to stage significant recoveries. The price of SHIB may serve as a springboard if it gets close to this area, easing selling pressure and providing bulls with an opportunity to gain ground.
The price of SHIB is currently at $0.00002236, just above the critical support zone that the IOMAP has shown. With the 100 EMA offering more support, SHIB's price looks to be consolidating on the daily chart. For the asset to resume its upward trajectory, it must overcome resistance at $0.000025.
