🐹🐹Shiba Inu (SHIB) is showing promising signs of a potential breakout as it attempts to surpass a downward trendline established since early March. SHIB has risen by 10% over the past week and is at a critical juncture where a successful breakout could lead to a significant bullish trend, while failure could result in a bearish reversal.💮
Currently trading at $0.00002494, SHIB aims to breach the $0.000025 level, indicating ongoing bullish sentiment among investors. On-chain data from IntoTheBlock (ITB) highlights multiple resistance levels between the current price and $0.000139. Approximately 62,700 addresses acquired 69.97 trillion SHIB at an average price of $0.000025, creating a notable resistance wall.🏟
To reach a new all-time high, SHIB must navigate through five resistance levels. The first major resistance is at $0.000028, where 98,230 addresses hold about 40.17 trillion SHIB tokens. Following this, another resistance level exists at $0.000033, with 143,280 addresses holding 21.3 trillion SHIB tokens. A total of around 454,160 addresses hold SHIB between the current price and the all-time high of $0.00008845, posing significant challenges for upward movement.$SHIB #Shib #Shibinu