As a seasoned crypto investor with years of experience in the market, I believe that Shiba Inu (SHIB) is currently at a crucial juncture. The recent 5% price rebound is a promising sign for the cryptocurrency, but it’s essential to remain cautious and strategic when considering SHIB’s next moves.
Shiba Inu (SHIB) is experiencing a significant turning point as its price surges by 5%, indicating a crucial juncture for this cryptocurrency. According to CoinMarketCap, SHIB had gained 2.83% in the preceding 24 hours, reaching a value of $0.0000176.
The current objective for Shiba Inu (SHIB) investors looking to buy is to retake control of the $0.000017 to $0.000018 price range, which contains approximately 419.58 trillion SHIB tokens. Based on IntoTheBlock’s Global In/Out of Money data, around 21,010 addresses have previously purchased this amount of SHIB within that specific price range.
As a researcher studying market trends, I would describe it this way: Many investors holding addresses in this price range are likely to sell once the market price surpasses their initial investment costs, thereby covering their losses and breaking even. Consequently, these levels could act as resistance points, hindering any potential price growth at those specific price points.
As a researcher studying technical analysis, I find the In/Out of the Money Around Price (IOMAP) indicator to be a valuable tool in determining the significant price levels for a financial asset. IOMAP is an enhanced version of the Global In/Out of Money indicator, providing more detailed information about the resistance levels. By analyzing the IOMAP data in first-person perspective, I can confidently say that this indicator offers crucial insights into where the true resistance lies within a specific price range.
As an analyst, I’ve identified a significant resistance point for Shibaswap (SHIB) based on this indicator. Specifically, at the $0.000018 level, approximately 10,330 unique addresses have collectively purchased around 416.47 trillion SHIB tokens.
With such a large amount of SHIB amassed at this point, surmounting this barrier would bring about favorable consequences. Overcoming this marked range would not only bolster SHIB’s ongoing growth trend but also open doors to potential price rises in the future.
What’s next for Shiba Inu‘s price?
As a researcher analyzing IntoTheBlock data on the Shiba Inu (SHIB) cryptocurrency, I’ve identified that beyond the range of $0.000017 to $0.000018, the next substantial resistance lies between $0.000019 and $0.000025. However, it is essential to note that overcoming the crucial level at $0.000018 to $0.000019 would be a prerequisite for SHIB’s price progression towards this critical barrier.
As a SHIB investor, hitting those milestones would be an impressive accomplishment for our beloved token. It could pave the way for a prolonged price surge.
In the upcoming days and weeks, it’s crucial to keep an eye on SHIB as its bulls make attempts to retake significant price levels. A victorious charge could mark a new stage of expansion and equilibrium for SHIB’s value, while falling short may lead to more consolidation.
As a researcher studying the cryptocurrency market, I would note that the attention of investors is focused on SHIB‘s progress as it approaches notable price thresholds. The results of this endeavor will be pivotal in deciding whether Shiba Inu can sustain its advancement and surmount its most substantial yearly hurdle to date.
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2024-06-26 15:07