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Trillions of SHIB Tokens Reach Break-Even Point as Shiba Inu Price Explodes

Sun, 06/18/2023 - 12:27
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Gamza Khanzadaev
Trillions of SHIB come to breakeven as Shiba Inu price slams through resistance
Trillions of SHIB Tokens Reach Break-Even Point as Shiba Inu Price Explodes
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In a remarkable turn of events, the Shiba Inu token, SHIB, has witnessed a breathtaking surge in its price, leading to an astonishing number of tokens finally reaching their break-even point. Recent market data analyzed by IntoTheBlock reveals that over a trillion SHIB have regained their initial value as a direct consequence of the latest price action.

Source: IntoTheBlock

The exceptional price movement occurred earlier today when SHIB broke through a crucial resistance level at $0.000007, resulting in a remarkable 4.6% gain within a mere 30 minutes. This breakthrough is part of a larger rebound in the Shiba Inu token's price, following a previous drop of $0.0000054 just a week ago.

Millions of Shiba Inu (SHIB) Burned in Week as Burn Rate Climbs 281%

In the wake of this significant breakout, more than 1 trillion SHIB tokens have transitioned from losses to profits, showcasing the extent of the rally. Since the last week's dip, the price of SHIB has experienced an impressive 34% surge, propelling 18.58 trillion SHIB tokens into profitable territory. Remarkably, this surge accounts for a substantial 40.9% of all "profitable" Shiba Inu tokens in circulation.

SHIB to USD by CoinMarketCap

With the current bullish momentum behind Shiba Inu, many are eagerly watching to see if this extraordinary price action will continue. This mini rally has definitely renewed optimism among SHIB token holders, many of whom have been waiting patiently for a turnaround after experiencing extended periods of decline.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.