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Recent market momentum has brought Shiba Inu's price closer to a crucial resistance level that could dictate the token's short-term course, bringing it once again to a critical intersection. After a 2.97% gain, SHIB is currently trading at about $0.0000142. However, it is now approaching the dense resistance zone between $0.000014 and $0.000017, which is where more than 537 trillion SHIB tokens are held by more than 141,000 addresses.
On-chain data from IntoTheBlock shows that this resistance cluster is one of the biggest groups of out-of-the-money holders, or those who purchased SHIB at higher prices and are currently awaiting break-even. Selling pressure could rapidly increase and cause a pullback if SHIB is unable to overcome this barrier. SHIB's recent breakout above the 50 EMA and the psychological barrier at $0.000013 is encouraging on the price chart.
Additionally, volume is increasing steadily, indicating that this upward push is supported by genuine buying interest. The relative strength index, or RSI, is above 60, indicating bullish momentum but not yet overbought, allowing for further gains. The real test, though, is not far off. If the $0.000014 zone is not decisively broken, it may return to support in the $0.0000125-$0.0000130 range, which has historically been a battleground.
Yuri MolchanA quick rally toward the next resistance band, which is close to $0.000017, could be possible, though, if there is a confirmed breakout above $0.0000145 with high volume.
Although Shiba Inu's market structure is getting better, the 537 trillion SHIB barrier is still a strong obstacle.
To break through, bulls will require a lot of momentum and possibly a boost from the strength of the market as a whole. If successful, it could mark the beginning of a larger reversal — but the coming days will be crucial.
Vladislav Sopov
Dan Burgin