Shibaprice

Hey, crypto fam! 🧐 Have you been keeping an eye on *Shiba Inu (SHIB)*? The *price* has been consolidating lately after the broader crypto market faced a *recent correction*. At the moment, SHIB is hovering around *0.000016*, and it’s been struggling to break higher due to strong *selling pressure*. 😬

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*What's Holding SHIB Back? 🛑*

Right now, *Bitcoin (BTC)* is also on a decline, trading at *97k*, and it’s impacting the entire market, including SHIB. But there's something more specific that’s limiting SHIB’s growth: its *huge supply* of *600 trillion tokens*! 🧐

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*600 Trillion SHIB: The Supply Problem 💥*

The *Global In/Out of the Money (GIOM) Indicator* is showing us a crucial insight into SHIB's price action. It reveals that a lot of SHIB holders are now *“out of the money”*, meaning they bought at higher prices and are sitting at a loss. The most important *resistance zone* for SHIB is between *0.000018 and0.000019*, where over *40.68K addresses* hold a whopping *423.54 trillion SHIB*. 😱
This big supply cluster creates a *barrier* to price movement because these holders are likely waiting for SHIB to *reach their entry point* to break even, which could lead to *sell-offs* that prevent the price from moving higher. 🚫

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*Resistance and the Road Ahead 🛤️*

If SHIB can break above *0.000019*, the next major resistance will be between *0.000019 and 0.000024*, where another *155.67K addresses* hold *68.23 trillion SHIB*. So, even if SHIB pushes past the first resistance level, there’s still another significant *sell zone* waiting. 🏔️

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*What Does This Mean for SHIB Holders? 🤔*

- *Watch the Resistance Levels*: The next few days or weeks will be key. If SHIB breaks past *0.000019*, it could trigger more buying pressure, but the supply wall at higher levels could still limit its progress.
- *Understand the Impact of Supply*: With *600 trillion SHIB* in circulation, it will be tough for SHIB to see massive price increases unless the supply decreases or demand rises significantly.

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*Conclusion 💡*
While Shiba Inu has been consolidating at *$0.000016*, the large supply and sell zones ahead are *holding back* any significant upside potential. 🚫 Until SHIB can break through these resistance levels, it will likely continue its sideways movement. Stay cautious and monitor those resistance zones for any changes! 📉

$SHIB

#ShibaInu #SHIB #MarketCorrection #ShibaPrice #cryptotrading

#shiba #shibanextmove #Shibaprice $SHIB
Could Shiba Inu Reach $0.000045? Key Support and Resistance Levels to Monitor
Shiba Inu (SHIB) is at a pivotal point in its price trajectory, with potential to either rally toward new highs or revisit lower support levels. Recent technical analysis on TradingView highlights crucial support and resistance zones that could influence SHIB’s near-term movement. Analyzing the daily candlestick chart for SHIB/USDT, the data suggests the possibility of a sharp rally toward $0.000045 if certain resistance levels are surpassed.
Key Support and Resistance Levels
Resistance Zones to Watch:
$0.00003239
This immediate resistance level could pose a challenge for SHIB, as it previously acted as a barrier in December 2024. Breaking above this level may indicate renewed bullish momentum, encouraging buyers to push the price higher.
$0.00004563
Considered a critical psychological level, this resistance point represents the peak of SHIB’s price earlier in 2024. A successful breakout here would reflect significant market optimism and could position SHIB to challenge its previous all-time highs.
Support Levels to Monitor:
$0.00001035
This level has historically acted as strong support, with notable rebounds observed in 2024, particularly on August 5. A hold above this level could signal sustained buyer interest and potentially stabilize the price trend.
Below $0.00001035
A failure to maintain the $0.00001035 support would likely weaken buyer confidence, creating opportunities for the price to test even lower levels. This could introduce a bearish sentiment into the market.
Outlook for SHIB
For Shiba Inu to sustain its upward momentum and aim for $0.000045, it must first break through the key resistance at $0.00003239. However, a failure to hold critical support levels could lead to a bearish outlook in the short term. As always, market participants should watch these levels closely for insights into SHIB’s next moves.