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💥Shiba Inu Metrics Turn Bullish💥:
Here’s How Many Wallets Stand Between Current Price And $0.000139💖
Shiba Inu is exhibiting interesting price action as it looks to break above a downward-sloping upper trendline under which it has been trading since the first week of March. Currently, SHIB is up by 10% in the past seven days and is at a decisive junction of a breakout that could lead to a strong bullish action. Failure to exhibit a strong breakout could lead to a reversal into bearish action. 🎉
However, although SHIB is looking prime for a breakout, data shows there are still multiple resistance levels to overcome. Particularly, on-chain data from IntoTheBlock (ITB) reveals multiple walls of addresses between the current price and $0.000139.💐
🔸 Shiba Inu Looking To Break Above $0.0001
At the time of writing, SHIB is trading at $0.00002494. Recent price action in the past 24 hours indicates that the bulls are now looking to push the cryptocurrency above the $0.000025 price level. This indicates that many investors are still bullish on SHIB.🛩️
According to data from ITB, around 62,700 addresses purchased 69.97 trillion SHIB at this point at an average price of $0.000025. Although SHIB will eventually break through. These price walls consist of a range of addresses that could initiate selloffs immediately after breaking even.🥇
Interestingly, there are around 454,160 addresses holding over between the current price of Shiba Inu and the current all-time high of $0.00008845. The first major resistance is at an average price of $0.000028, where 98,230 addresses are holding around 40.17 trillion SHIB tokens. This range of addresses bought in at a maximum price of $0.00003 and SHIB would need to break above this price point before the next resistance.💦
After surpassing this maximum price, Shiba Inu would be facing another resistance at around $0.000033 where 143,280 addresses are holding 21.3 trillion SHIB tokens. 🌼
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