Shiba Inu is again heating the crypto charts, as fresh on-chain data reveals that over 130 trillion SHIB tokens are now in profit. With a total value of around $1.76 billion, this massive sum represents a pivotal moment for the meme coin as traders anticipate a sharp price movement in the coming days.
According to insights from IntoTheBlock, the tokens currently “in the money” could influence the next leg of SHIB’s trajectory. Investors may either cash out, prompting a pullback, or double down, driving even more momentum.
SHIB Climbs Higher Amid Meme Coin Surge
At the time of writing, Shiba Inu has climbed 1.39% in the past 24 hours, trading at $0.00001344. It has logged three consecutive gains days since March 22, pushing its weekly increase to 7%. Today’s trading session peaked at $0.0000137, where some early profit-taking emerged.
Looking ahead, traders should closely monitor the price’s interaction with the EMA 20. A clear break and sustained move above it could open the door to a run toward the daily 50-day SMA at $0.00001415. If momentum continues, the $0.00001915 and $0.000029 zones may come into play. On the flip side, a dip below $0.00001312 could trigger a retest of deeper support near the 200 EMA.
Market Optimism Fuels Meme Coin Momentum
The broader crypto market remains optimistic due to the Federal Reserve’s recent signals of upcoming rate cuts. Meme coins are known for reacting quickly to shifts in sentiment, and SHIB has naturally benefited from this renewed interest in risk assets.
Retail traders, always searching for high-risk, high-reward opportunities, have piled into meme coins like SHIB. These tokens respond quickly to sentiment shifts and offer rapid gains due to their low entry points and viral appeal.
Related article: Shiba Inu Burns 14 Million Tokens in 24 Hours as SHIB OS Sparks New Blockchain Hype
What’s Next for SHIB?
As SHIB tests resistance and investors weigh their next move, the token remains in a high-stakes position. With over 130 trillion tokens sitting in profit, any shift in sentiment—positive or negative—could trigger sharp price action.
Whether SHIB continues its breakout or cools off temporarily, one thing is clear: Meme coin mania is far from over, and SHIB remains at the center of it.
