SHIB Reaches a Critical Point on the Chart
Recently, Shiba Inu’s price hit a key level at $0.000017, sitting just above a crucial support area formed by a cluster of moving averages and a significant volume of 274 trillion SHIB at the break-even price level. SHIB appears to be at a turning point, with the daily chart indicating that any further decline could push the asset into bearish territory.
Investors Remain Cautious as Growth Remains Modest
While Bitcoin has shown strength recently, SHIB has only displayed mild upward momentum, reflecting hesitation among investors. An analysis of on-chain data reveals some mixed results: only 2% of current SHIB holders are new, indicating that most investors have held SHIB for over a year. This data not only reflects a lack of fresh buying pressure but also may indicate loyalty among long-term SHIB investors.

Limited Profit Opportunities
Approximately 53% of SHIB holders are in profit, while 43% are at a loss, suggesting limited potential for profit at current price levels. In terms of concentration, 73% of SHIB’s total supply is held by large holders, raising concerns about possible selling pressure due to the influence of a small number of wallets on the price.
Significant Transactions, But Uncertain Demand
Recent data shows transactions over $100,000 totaling $404 million, indicating substantial activity but not necessarily purchasing demand. The $0.000019 and $0.000024 levels are important resistance points where the mentioned 274 trillion #SHIB، are concentrated. Breaking above these levels could signal a bullish trend, but if support at $0.000017 is not maintained, a further drop toward $0.000010 could be possible.
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With the current bullish trend across the broader market, Shiba Inu whales are generating massive transaction volumes, which could support further price growth for SHIB. The total cryptocurrency market capitalization has increased by more than 6.18% in the past 24 hours, reaching $2.45 trillion, showing a positive trend that impacts all altcoins, including SHIB.
Shiba Inu Whale Transaction Volume Shows Bullish Bets
According to data from IntoTheBlock, the 24-hour SHIB whale transaction volume rose by 341%. This metric tracks large transactions exceeding $100,000. During the latest observation period, the transaction volume reached $68.02 million. Such activity is unusual in the memecoin ecosystem, adding significance to this increase. Over 24 hours, 170 large SHIB transactions were recorded, with whales moving 3.73 trillion Shiba Inu tokens on-chain. This makes SHIB one of the most traded memecoins in the broader digital currency market.

At the time of writing, SHIB’s price increased by 11.42% over the past 24 hours, reaching $0.00001923. Key advocates of the token expect it to surpass the resistance level at $0.00002, which could mark another milestone. Additionally, SHIB overtook Avalanche (AVAX) during its strong rally to become the 12th largest digital asset on the market.
Whales Could Drive Further $SHIB Price Growth
Although it is uncertain how long Shiba Inu will hold its current positions, the significant whale transactions could be decisive. If large investors continue buying and transacting at the same rate, SHIB may experience further short-term growth.
Key Trends to Watch in the Shiba Inu Ecosystem
Beyond the impact of whale activity, Shiba Inu boasts an active ecosystem. Through its Layer-2 solution, Shibarium, the token continues to introduce new use cases for its users. Shibarium recently launched a bridge for the NFT project Shiboshi, expanding the ecosystem’s possibilities. Additionally, Shiba Inu aims to compete with current Ethereum L2 protocols. With the planned SHIB token burns through the Shibarium portal and other ecosystem innovations, Shiba Inu is setting the stage for long-term growth.

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Shiba Inu (SHIB) has captivated the cryptocurrency world with its rapid rise as a meme token. Many investors and crypto enthusiasts are curious about SHIB's future price and whether it could reach the ambitious milestone of $1. This analysis will delve into the factors that could determine SHIB's trajectory.Shiba Inu's Current Market PositionShiba Inu (SHIB) has made a remarkable impression in the cryptocurrency market. As a meme coin that initially started as an alternative to Dogecoin, SHIB has grown beyond its novelty origins to become a significant player in the crypto space. With a current price of $0.00001007 and a market capitalization of $5.94 billion, ranking it at #16 in the cryptocurrency ecosystem, SHIB has demonstrated substantial market presence and investor interest. Market Movement: Over the past 24 hours, SHIB has seen an increase of approximately 2.79% in its value, while the volume has surged by 7.37% to $285.72 million. This indicates active trading and investor engagement with the token.Uptrend Indications: In the last week, SHIB has shown a promising upward trend, increasing by 16.53%. Over the past month, its price has risen by 17.58%, suggestinga robust growth trajectory and potential for further gains.Shiba Inu Price PredictionThe prospect of Shiba Inu (SHIB) reaching a price of $1 has been a topic of much speculation. Based on its current price of $0.000007558 and recent market performance, several factors need to be considered: Recent Performance: SHIB has shown fluctuations, with a recent decrease of 2.60% on the day and a loss of 1.97% over the previous week. However, it has maintained gains of 14.42% over the past month. Market Predictions and Sentiment: The future price movement of SHIB, like any cryptocurrency, is influenced by overall market sentiment and specific developments within the SHIB ecosystem. The launch of Shibarium, a major update, is expected to impact its price significantly. However, predicting whether this will propel SHIB to the $1 mark involves considerable speculation. Price Analysis from Experts: According to experts, there's an expected uptrend in SHIB's price by the end of 2023. AI predictions from platforms like CoinCodex and OpenAI's ChatGPT suggest a potential price increase, with CoinCodex forecast a 6.599% rise and ChatGPT indicating a more bullish 29.98% increase by the end of 2023.Can Shiba will reach $1?The prospect of Shiba Inu (SHIB) reaching $1 is highly improbable when considering its market capitalization. For SHIB to hit $1, its market cap would need to reach an astronomical figure, far surpassing even the most valuable companies in the world.As of now, SHIB's price is in the fraction ofa cent range, making its market cap substantial but nowhere near the levelit would need to be to reach $1 per SHIB. To put this into perspective, if SHIB were to reach $1, its market cap would have to be in the trillions of dollars, which is several times higher than the entire current market cap of all cryptocurrencies combined. Given these points, the possibility of it reaching $1 is highly speculative and would require a massive increase in its market cap and widespread adoption.Remember: A lot of Hardwork goes into for providing you Best Investment Articles. Your Generous Tips would Empower our Mission and help us to work even Harder for you to give Best Investmnent Advice.#Roarstock #shibainu #ShibaInuSurge #Shibaprice #shibaburn $SHIB

The SEC is the U.S. Securities and Exchange Commission, which is a federal agency that regulates the securities markets and protects investors. The SEC has been cracking down on crypto-related activities that it considers illegal or fraudulent, such as unregistered offerings, misappropriation of funds, and false claims of returns. The SEC’s actions have affected many crypto platforms, projects, and investors, both in the U.S. and abroad.Without the SEC’s involvement, the crypto sector could face more risks and uncertainties, such as:Lack of clear rules and standards for crypto assets and activities, which could lead to confusion, disputes, and scams.Lack of investor protection and recourse, which could result in losses, fraud, and theft.Lack of oversight and accountability, which could enable market manipulation, insider trading, and money laundering.Lack of innovation and competition, which could stifle the development and adoption of crypto technologies and services.However, some crypto enthusiasts argue that the SEC’s involvement is too intrusive and restrictive, and that it undermines the decentralized and open nature of crypto. They claim that the SEC’s regulations are outdated, inconsistent, and biased, and that they stifle the creativity and freedom of the crypto community. They also point out that the SEC’s actions have driven some crypto platforms and projects to relocate to more crypto-friendly jurisdictions, which could reduce the U.S.'s influence and leadership in the global crypto space.#BTC #BONK #Shibaprice $BTC $XRP $1000SATS