According to U.Today, Shiba Inu's price could potentially double if it crosses a significant threshold of 110 trillion SHIB. The breakeven price indicator from IntoTheBlock shows that 110.27 trillion SHIB were purchased by 327,200 Shiba Inu addresses at an average price of $0.000034, which is close to the current price range. This suggests that over 327,000 addresses would need SHIB to rise to $0.00005 to break even.
While the 110 trillion SHIB tokens present a substantial barrier, they also offer the potential for a significant increase in value. If Shiba Inu's current prices are considered, a jump to $0.00005 would represent a 100% increase in SHIB value. This threshold is particularly important because a successful breach above it could potentially remove a zero from the SHIB price.
Following the 110 trillion SHIB threshold, there is a range where 37.13 trillion SHIB were purchased by 126,520 addresses above the $0.000051 price point. A successful takeover of this level could potentially remove a zero from SHIB's price and push it to new all-time highs.
The appearance of a bull flag pattern on the Shiba Inu daily chart also supports a bullish outlook for its price. Crypto analyst Ali noted at the beginning of the week that Shiba Inu seems to be forming a bull flag on its daily chart, which could trigger a bullish breakout and send the SHIB price to $0.000072323.
At the time of writing, SHIB had risen 7.75% in the last 24 hours to $0.000025, reflecting the rally in dog coins. Shiba Inu has been steadily increasing over the last four days, and technically, the price meets a short-term resistance at the daily MA 50 of $0.0000263. A successful break above this point may be necessary for SHIB to leave its current trading range and generate momentum for a new bullish rise.
