Shiba Inu (SHIB) is a meme coin inspired by Dogecoin but built on the Ethereum blockchain. SHIB was launched in August 2020 by an anonymous developer named Ryoshi, initially possessing trillions of tokens.
Half of the tokens were sent to Ethereum co-founder Vitalik Buterin, who donated and burned a large number of tokens, increasing the visibility of SHIB. Unlike Dogecoin, SHIB's Ethereum base supports applications like ShibaSwap (a decentralized exchange). Plans for an NFT platform and a DAO-based governance system are in place. Integration with the Ethereum ecosystem gives SHIB the potential for broader use cases. In the current market cycle, SHIB's development may attract attention due to its continuously expanding features.
IOMAP indicator data shows that there are 40 trillion SHIB in significant trading support; if the price continues to decline, strong support will be triggered around $0.000022.
This price level is significant, as 23,170 addresses have accumulated SHIB in this range, akin to a bull market fortress. Past experiences show that such support groups can lay a solid foundation for a significant asset rebound.
Once SHIB's price approaches this range, it could serve as a springboard, easing the selling pressure and creating upward opportunities for bulls, with subsequent movements worth close attention.
SHIB is currently priced at $0.00002236, slightly above the key support zone (as indicated by IOMAP). In the daily chart, the 100 EMA supports its price consolidation.
To regain upward momentum, it needs to break through the resistance at $0.000025. Currently, trading volume is low, adding uncertainty and limiting its breakout ability, but it also suggests a weakening bearish sentiment.
Thus, the battle between sellers holding $0.000025 and buyers entering at $0.000022 will determine SHIB's direction.
If the price continues to decline, the support at $0.000022 could stabilize the price.
Without strong external forces, it would be difficult to break this level given the high trading volume.
Therefore, this area may be an opportunity for investors. Conversely, if it breaks down, it could be bearish, potentially testing $0.000020.
In short, SHIB's short-term key is to hold the support at $0.000022; maintaining this level could lead to a rebound, while breaking it could lead to further decline.
What good things are happening on December 30?
Although specific news has not been revealed, the crypto community is buzzing with speculation. Here are some of the hottest guesses:
Shibarium is finally coming!
The second-layer solution Shibarium is highly anticipated. This technology is said to reduce costs and increase speed, enhance functionality, attract new users and large institutions, bringing significant changes to the SHIB ecosystem.
Token burn mechanism upgrade? SHIB's burn strategy needs to be updated, reducing token circulation, creating supply shortages, and the price could rise rapidly.
What impact does this have on SHIB holders? If these speculations come true, SHIB could make a comeback: price increase, ecosystem expansion, and vibrant community.
December 30, a turning point for SHIB? Whether it's the launch of Shibarium, collaborations with big brands, or updates to the burn mechanism, December 30 may rewrite SHIB's history. SHIB holders should keep their eyes peeled and be ready to embrace a new era!
