On-chain data signals a significant inflow of 33.7 trillion Shiba Inu (SHIB) tokens within the next 24 hours. This surge could introduce notable volatility in the token’s price. The substantial increase in SHIB supply may impact market dynamics, triggering shifts in investor behavior and price movements.
Current Price Resistance and Key Support Levels
The price chart reveals that SHIB currently faces resistance at $0.000031. In the past 24 hours, the token’s price has dropped by 1.7%, reflecting growing selling pressure after a recent rally. Investors are closely monitoring the $0.000027 and $0.000025 levels, which serve as crucial support zones. If buying interest emerges at these points, SHIB may stabilize.
Source: CoinMarketCap
However, the expected influx of 33.7 trillion tokens could lead to heightened volatility and further fluctuations. Large transactions, often referred to as whale movements, may drive this anticipated influx. These transactions could indicate significant accumulation or potential sell-offs.
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The outcome depends on whether whales choose to buy or offload their holdings. With the Relative Strength Index (RSI) hovering around neutral levels, the token’s price could swing in either direction.
Community Sentiment and Profitability Metrics
Despite recent price challenges, SHIB continues to maintain strong transaction volume and community engagement. However, profitability data suggests that many holders remain cautious about expanding their positions. Most investors appear to be waiting for clearer signs of upward momentum before increasing their holdings.
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Market psychology plays a critical role in understanding how the influx of SHIB might affect prices. A large supply increase often raises concerns about token dilution, which can lead to temporary price declines. On the other hand, if whales capitalize on the influx to accumulate more tokens, the market could interpret it as a bullish signal.
In the coming hours, traders and investors will closely watch price movements and whale activity to gauge the token’s next steps. The balance between selling pressure and accumulation will likely determine SHIB’s short-term performance.
