Shiba Inu’s Daring Dance: Will It Leap to $0.000014 or Trip Over Its Own Tail?

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Ah, the delightful world of canine-inspired cryptocurrency, Shiba Inu (SHIB), is once again wagging its tail, aiming for a tantalizing $0.000014. But, dear reader, with a staggering 236 billion SHIB in the paws of 3,780 addresses, the next move is as uncertain as a cat at a dog show! 🐶💰

Should this minor resistance be breached, we might just see SHIB prance its way to $0.000014, with dreams of a breakout towards a rather hefty resistance where a jaw-dropping 548 trillion SHIB are lounging about. Yes, you heard that right! According to the ever-reliable IntoTheBlock data, 162,610 addresses are holding onto this treasure trove, and a breach could mean SHIB is in for a delightful romp! 🎉

However, should our furry friend fail to breach the $0.000014 level, we might witness a rather unexciting consolidation or a minor correction—oh, the horror! All eyes are glued to Shiba Inu’s next move as it tiptoes closer to this pivotal price point. Should it stumble, support is expected at $0.0000108, which, if memory serves, halted SHIB’s price fall on March 11. Quite the dramatic affair, wouldn’t you say? 😏

As of this very moment, SHIB has pranced up 0.7% in the last 24 hours to a charming $0.00001285, and a delightful 6% weekly. Bravo! 👏

For the past two days, our dear Shiba Inu has been frolicking in a tight range between $0.00001227 and $0.000013, as traders hold their breath, waiting for the market to make its next move. The suspense is positively riveting! 🎭

Market Shift Incoming?

In a recent tweet, the ever-astute IntoTheBlock has reported that the combined meme coin market cap has returned to levels reminiscent of the third quarter of last year. How quaint! They’ve highlighted key on-chain indicators to keep an eye on for a potential shift. 🧐

First on the list is the number of traders, with short-term traders often signaling new retail engagement. While most meme coins are still showing a downward trend in this metric, a reversal could mark a key turning point for the market. How thrilling! 🎢

Next up are transaction volumes, which reflect usage growth, even if not necessarily driven by new users. Higher transaction counts often signal increased utility and a more engaged community—essential ingredients for sustained growth. Quite the recipe for success! 🍽️

Last but not least is holder profitability. Monitoring the percentage of holders in profit can reveal those delightful overlooked opportunities. If profitability is down yet usage is rising, it may indicate upside potential worth exploring. A veritable treasure hunt, if you will! 🏴‍☠️

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2025-03-20 18:43