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Shiba Inu Nears 553 Trillion SHIB Barrier: Can Bulls Break It?

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Sat, 30/12/2023 - 21:43
Shiba Inu Nears 553 Trillion SHIB Barrier: Can Bulls Break It?
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Shiba Inu bulls are making a fierce attempt to guard the much-watched $0.000010 level, which, if lost, might put SHIB at risk of adding an extra zero to its price.

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Shiba Inu has stably held the $0.00001 level since Dec. 20, after temporarily dropping to lows of $0.0000095. Even so, bears failed in an attempt to pull prices below this level, even during the Dec. 26 market flash crash.

Given that Shiba Inu has sustained above $0.00001 for 10 straight days, it appears that bulls are intent on flipping this level into support, which, if achieved, could present further upside gains for Shiba Inu.

While bulls are currently seeking to conquer this level, the next gargantuan hurdle awaits: a 553 trillion SHIB barrier that, if overcome, could cause the SHIB price to more than double.

IntoTheBlock
Shiba Inu (SHIB) break even price, courtesy: IntoTheBlock

According to on-chain data from IntoTheBlock, Shiba Inu is currently closing in on a gigantic barrier, not far from where it currently trades.

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Shiba Inu (SHIB): Here's Fascinating Trend That Might Trigger New Bull Run

This is where 553.72 trillion SHIBs were bought by 317,800 addresses at a minimum price of $0.000011. These addresses bought the said quantity of SHIB at an average price of $0.000017 and a maximum price of $0.000027. This implies that the SHIB price would have to increase to the specified price range of $0.000011 to $0.000027 for these holders to break even on their positions.

At the time of writing, SHIB was down 1.98% in the last 24 hours to $0.0000104.

SHIB most traded on WazirX; LEASH new listing

Indian crypto exchange WazirX recently released its 2023 year-end report. The top-performing coin by volume is BTC, followed by SHIB.

Shiba Inu ranks among the most traded coins on the platform, alongside BTC, XRP, ETH, TRX and MATIC.

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Shiba Inu (SHIB) Holders Should Not Joke With This Critical Information: Details

Crypto platform PointPay has announced the successful completion of the LEASH listing, allowing users to trade and hold the Shiba Inu ecosystem token LEASH.

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