According to IntoTheBlock’s data analysis, Shiba Inu’s price shows robustness as indicated by on-chain metrics. These metrics demonstrate that a significant number of holders are supporting the coin. Moreover, the Active Addresses by Profitability suggest that over 35 trillion addresses are currently profiting from the Shiba Inu price level.
Delving deeper into the on-chain information, we discover that the number of active addresses are categorized based on their purchase price. This segmentation illustrates a community that is holding steadfast. The data suggests that the current pricing level is a suitable point for many investors, potentially serving as a foundation for the price due to their reluctance to sell unless there’s a substantial price surge.
Source: IntoTheBlock
Looking at the graph for an update on SHIB‘s performance, we notice some activity. Previously, SHIB has found a floor at $0.000022, which it has bounced back from in the past. Conversely, SHIB encounters resistance at $0.000028.
The number of transactions has remained consistent, without any notable increase or decrease. This stable level of activity, along with a large percentage of investors making a profit (ITM), could act as a supportive influence on the present market prices.
If the market continues to be optimistic and buys up any selling efforts, Shiba Inu (SHIB) may attempt to reach the $0.000028 resistance mark. However, it’s essential to consider if SHIB can surpass this level and maintain its position above it, which could lead to potential additional growth.
Shiba Inu, the cryptocurrency, is known for its extreme price fluctuations, making it an unpredictable asset. Be prepared for potential sudden drops in value, even with a favorable on-chain condition.
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2024-04-23 14:52