As a long-term crypto investor with experience in the Shiba Inu community, I’m closely following the progress of my favorite meme coin towards its break-even price of $0.00005. This milestone is more than just a number; it represents the collective hope and determination of the Shiba Inu family to see our beloved token reach new heights.
Moving forward in its development, I, as an analyst, observe that Shiba Inu, the canine-themed digital currency, is approaching a significant financial threshold: attaining a breakeven price of $0.00005.
The target figure of 106 trillion SHIB tokens isn’t merely a large number; it symbolizes the collective aspiration and resolve of the Shiba Inu community for their cherished token to reach new heights. To attain this pivotal mark of $0.00005, an impressive alignment of these tokens is necessary.
The Break Even Price metric offered by IntoTheBlock calculates the average profit or loss for all investors holding a specific cryptocurrency based on their past transactions. For those investors who have incurred losses, the asset’s price must rise to the designated price range before they can recoup their initial investment and reach the break-even point.
Approximately 308,180 addresses are currently holding around 106.54 trillion SHIB coins, which have an unrealized loss between $0.000026 and $0.000051 per coin. The average price at which these coins were last bought is $0.000034.
Based on the data, approximately 308,000 unique Shiba Inu wallet addresses would need SHIB to reach a price point of $0.000051 in order for those investors to break even on their investments. Achieving this price level, however, will be challenging given the current market conditions. It would necessitate a combination of favorable market circumstances and a positive shift in investor sentiment.
SHIB to $0.00005?
Currently, SHIB‘s price stays roughly at $0.000025, giving it a market capitalization worth $14.59 billion and placing it as the 11th largest cryptocurrency in terms of value. A leap to $0.00005 equates to more than doubling its price, leading to speculation about potential causes for such a significant rise.
In the immediate future, Shiba Inu encounters a significant hurdle at the $0.000025 level in its daily Simple Moving Average (SMA) 50. Clearing this important threshold could be essential for SHIB to move beyond its current trading band and revisit previous peaks at $0.000030 and $0.000032.
If the attempt to surpass this significant threshold is unsuccessful, Shiba Inu may continue to trade within its present price range. The lower boundaries of support could be found at around $0.000018 and $0.00002 for a potential duration.
Keeping a close watch on the Shiba Inu price movements, the development team behind the scene is steadily advancing with their projects. This past week saw the introduction of ShibaSwap on Shibarium, enabling users to establish fresh liquidity pools and execute cross-swaps between Ethereum and Shibarium networks.
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2024-05-18 18:39