The dog-themed cryptocurrency Shiba Inu (SHIB) has witnessed an impressive 11% price surge over the past week, rebounding from a recent low of $0.00001106** on June 27. As of the latest update, SHIB is trading at **$0.00001159, reflecting a 1.96% increase in the last 24 hours amid broader crypto market gains.
Key SHIB Barrier Emerges at 79.69 Trillion Tokens
The $0.000012–$0.000014 Resistance Zone
According to IntoTheBlock analytics, a critical supply barrier has formed in the $0.000012 to $0.000014 price range, where:
- 79.67 trillion SHIB were previously acquired
- 103,860 addresses hold these tokens at an average cost basis of $0.000013
This concentration of tokens suggests a technical resistance level, where selling pressure from holders seeking to break even could slow upward momentum unless buying volume intensifies.
SHIB Price Outlook: Potential Scenarios
Bullish Breakthrough
A sustained increase in buying pressure and trading volume could propel SHIB beyond this barrier. Successfully overcoming this zone might pave the way for:
- Next resistance: $0.000014–$0.000016 (where 520.61 trillion SHIB were bought by 168,710 addresses)
- Long-term targets: Levels not seen in months
Bearish Rejection
Failure to hold above the current range ($0.000011–$0.000012) could lead to:
Immediate support: $0.000008–$0.000011
- 42.3 trillion SHIB purchased here by 199,700 addresses
- Historically acted as a strong floor during market downturns
FAQs: Shiba Inu’s Price Movement
Q: Why is the 79 trillion SHIB barrier significant?
A: It represents a cluster of tokens bought at higher prices, creating sell pressure as holders break even. Overcoming it requires strong demand.
Q: What drives SHIB’s recent price surge?
A: Factors include broader crypto market recovery, speculative trading, and renewed interest in meme coins.
Q: How does SHIB’s supply distribution affect its price?
A: Large token concentrations at specific price levels (like 79 trillion at $0.000013) often act as psychological resistance or support zones.
👉 Explore more crypto market trends
The Shiba Inu ecosystem remains dynamic, with price action heavily influenced by on-chain data and market sentiment. Investors should monitor trading volume and key support/resistance levels for directional cues.
For strategic trading opportunities, consider platforms offering deep liquidity and real-time analytics. 👉 Start trading SHIB today
Note: Always conduct independent research and consult financial experts before making investment decisions.
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