Shiba Inu’s Price Drama: Will 700 Trillion SHIB Finally Swim to Profit? 🐶💸

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Ah, the Shiba Inu price, a poor creature caught in the stormy seas of bearish winds! With the cryptocurrency market performing like a tired old dog, nearly 77% of SHIB holders find themselves swimming in losses. The lack of profitability is like a wet blanket, dampening the spirits of even the most optimistic traders. 😩

Today, the SHIB price languishes at a weekly low of $0.0000153, having taken a 3.55% dive in just 24 hours. On-chain data whispers of a key resistance zone, a magical threshold that, if crossed, could ignite a bullish reversal. Oh, the drama! 🎭

700T SHIB Holders Drowning in the Depths: Why Should We Care?

According to the wise sages at IntoTheBlock, those who bought 757 trillion SHIB above $0.000016 are now “Out of the Money.” Out of this vast ocean, a staggering 637 trillion SHIB tokens—84% of the submerged—were purchased between $0.000016 and $0.000024. Talk about a sinking ship! 🚢

Should the price approach the $0.000018 level or leap over the $0.000022 hurdle, the majority of these unfortunate SHIB token holders might just see the light of profitability again. Thus, the $0.000018 to $0.000022 zone stands as a crucial barrier that must be conquered for Shiba Inu to rise from the ashes. 🔥

But beware! This glorious uptrend hinges on whether these investors resist the temptation to cash out at breakeven. The struggle is real! 💪

Is Shiba Inu Price on the Brink of a Breakout? 

Despite the recent plunge to weekly lows, analysts are donning their rose-colored glasses and remain bullish on SHIB’s price. According to the oracle VipRoseTr, SHIB shows signs of a bullish reversal after clawing its way back from a key accumulation zone between $0.000012 and $0.000014. 🧐

If SHIB can keep its head above this support zone, it might just target the next resistance at $0.00002338, with dreams of a sustained rally pushing the price to a multi-month high of $0.0000365. Oh, the sweet taste of victory! 🍾

Another analyst, the ever-optimistic Javon Marks, claims that SHIB has broken free from a falling wedge pattern. This pattern, often a harbinger of bullish reversals, suggests that the meme coin could soar by 422% to its all-time high of $0.00008841. Can you believe it? 🚀

Yet, despite this rosy forecast, the daily chart reveals that bears are still in control. The struggle continues! 🐻

Sellers Keep Piling on SHIB 

Shiba Inu’s 1-day chart paints a grim picture, showing that SHIB remains under the oppressive weight of bearish pressure, with the Relative Strength Index (RSI) plummeting to 36. If the RSI keeps falling and hits oversold levels, it could signal a turnaround for SHIB price. But beware! A breach of support at $0.0000145 could extend this downward spiral. 😱

Moreover, the Moving Average Convergence Divergence (MACD) line is trending below the signal line, a clear indication that the trend remains bearish. The clouds are dark, my friends! ☁️

Sellers may continue to weigh heavily on Shiba Inu’s price until it makes a decisive breakout past the $0.000018 zone. At that point, many holders might finally start to see the light of profitability again. Will this breakout shift the market sentiment? Only time will tell! ⏳

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2025-02-18 11:16