According to U.Today, Shiba Inu (SHIB) experienced a rebound from a strong support level near $0.000010 on August 5. The recovery continued, reaching highs of $0.00001442 on Thursday before slightly retreating in Friday's trading session. On-chain data has highlighted a crucial resistance range that SHIB must overcome to achieve significant price recovery. Data from IntoTheBlock reveals that 487.98 trillion SHIB tokens were bought by 105,280 addresses in the range between $0.000015 to $0.000019 at an average price of $0.000017. This significant volume of SHIB purchased in this range suggests that many investors are either looking to break even or realize profits once the price approaches these levels. For Shiba Inu to achieve a meaningful price recovery, bulls will need to muster enough momentum to push the price above this resistance. Failing to do so could lead to prolonged consolidation or even a further decline, as sellers may step in to capitalize on any short-lived rallies. Shiba Inu bulls must generate enough buying power to break through the $0.000019 level. This would not only invalidate this massive resistance but might also potentially drive further price gains. At the time of writing, SHIB was up 2.52% in the last 24 hours to $0.00001389, but down 6.29% weekly. If Shiba Inu continues its current rebound, it may reach the moving averages, where bears are anticipated to put up a strong fight. If the SHIB price falls sharply from the moving averages, it may indicate that bears continue to sell on rallies, increasing the chances of a decline toward $0.000010. Conversely, if buyers push the price above the moving averages, it indicates that selling pressure may be diminishing. In this scenario, Shiba Inu might soar to $0.000020. If this occurs, Shiba Inu may target the $0.00003 level next.