# Shiba Inu's 55% Surge in 3 Months: Anticipating Major Resistance
Shiba Inu (SHIB) has witnessed an impressive 55% surge over the past three months, drawing attention to a potential challenge ahead. Market analyst Ali Martinez sheds light on the situation, particularly focusing on a significant resistance level at $0.000016, where a substantial number of addresses hold considerable SHIB holdings.
## Highlights of Shiba Inu's Recent Performance 🚀
- SHIB's remarkable 55% surge in the last three months is confirmed by data from market intelligence resource IntoTheBlock.
- Despite a recent dip below $0.00001, SHIB has resiliently held above the $0.000009 support level, showcasing stability amid a broader market downturn.
## Ali Martinez's Analysis and Resistance Alert 📊
- Ali Martinez, in his report, identifies a potential sell wall at the $0.000016 threshold, backed by data showing 89,330 addresses having purchased 422.8 trillion SHIB at this level.
- The concentration of holdings at this price level forms a formidable resistance, signaling a potential challenge for SHIB's uptrend.
- If SHIB resumes its upward trajectory and approaches this price level, investors who bought at $0.000016 might initiate selling, creating significant selling pressure.
## Key Resistance Levels and Future Scenarios 🛑
- Current trading at $0.00000970, SHIB faces immediate resistance at $0.00001007, aligned with Fib. 0.618. Overcoming this hurdle, SHIB would encounter resistance at $0.00001077 and $0.00001168.
- The $0.000016 resistance, marked by a significant supply concentration, poses a potential roadblock to SHIB's uptrend.
## Short-Term Goals and Support Levels 📉
- To sustain momentum, SHIB needs to defend the $0.000009 support in the short term. Currently at $0.00000970, breach of this level would bring support at $0.00000957, with the last defense at $0.00000907 above $0.000009. #JojoDaily #BinanceTournament #Shibaprice
