Shiba Inu (SHIB) continues to attract attention due to recent price movements and positive on-chain data. Its resilience amid broader market uncertainties has piqued investor interest, especially those eyeing a potential recovery. Notably, 56.34% of SHIB holders are currently profitable, highlighting strong returns at existing price levels.
Key Support and Resistance Levels
SHIB’s activity clusters between $0.000027 and $0.000029, marking a crucial support zone. Meanwhile, resistance looms between $0.000031 and $0.000033, posing a challenge for sustained upward movement. Breaking through this resistance could pave the way for further gains, while maintaining the support zone is essential to avoid deeper pullbacks.
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Although 129,000 to 139,000 addresses are profiting, only 16-45% of addresses are active in the current price range. This imbalance signals potential for increased demand if market sentiment improves. The gap suggests room for additional accumulation as investor confidence strengthens.
Recent Price Fluctuations and Volume Trends
SHIB recently rallied to $0.000033 before retracing to $0.000031. While this pullback may seem concerning, the asset remains in a promising position. Increased trading volumes and steady price recoveries hint at a possible return to an upward trajectory.
Source: CoinMarketCap
Immediate resistance stays at $0.000033, with a potential breakout pushing prices toward $0.000035. However, losing support at $0.000026 could lead to retesting the $0.000022 zone, signaling deeper corrections.
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Shiba Inu’s long-term success hinges on its ability to sustain momentum and break through significant resistance levels. Expanding network engagement and rising on-chain activity suggest growth opportunities. However, broader market recovery and stronger bullish sentiment remain vital for SHIB’s continued progress.
Holding 108 billion SHIB may not guarantee success, but consistent market support and favorable conditions could drive future gains. SHIB’s resilience and market positioning indicate potential, but its trajectory will depend on overcoming key hurdles.
