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putting most SHIB holders back in the green. According to IntoTheBlock, 69% of SHIB investors are now in profit, with only 24% at a loss. This shift in sentiment could pave the way for further price gains, as fewer holders are likely to sell while in profit, reducing selling pressure and fueling a continued rally. The next key resistance level sits at $0.000033, where 130,620 wallets accumulated a massive 15.06 trillion SHIB tokens.
Despite the positive price action, some red flags remain. On-chain data shows that SHIB whales are staying on the sidelines, with the "Concentration" metric indicating a bearish stance from large holders. The burn rate has also plummeted by 79% in the last 24 hours, a concerning sign for long-term growth.
However, crypto analyst Javon Marks is optimistic, predicting a potential surge to $0.000081—an astounding 180% gain that could even break Shiba Inu's all-time high of $0.000088. Currently, SHIB is trading at $0.000029, up 8% in the last 24 hours, leaving many wondering if the next big move is on the horizon.
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