Shiba Inu begins moon launch with 1.3 trillion SHIB barriers in crosshairs
The self-proclaimed ‘Dogecoin killer’ Shiba Inu (SHIB) is wagging its tail in anticipation ahead of an important milestone. Known for its large community and playful branding, this meme coin is on the verge of breaking a major resistance level, potentially sparking new bullish momentum. Related Reading: BONK Stays Alive in Top 100 List with 25% Daily Rally – Details Shiba Inu Hovering Around a Profitability Cluster SHIB is currently hovering around the $0.00001 mark, a price range that is more than just a number. This serves as an important “profitable cluster” where 1.3 trillion SHIB tokens reside, tokens purchased by early investors. This cluster has long been a battleground, with sellers looking to cash in and buyers aiming to push prices up. Source: IntoTheBlock But the tide appears to be turning. Analysts say the number of tokens within profitable clusters is gradually decreasing, indicating that selling pressure is easing. This, combined with the decreasing size of the cluster itself, is creating more fertile ground for SHIB to thrive. A potential break above $0.00001 is not only technical but also psychological. Overcoming these hurdles would signal to the market that SHIB has the power to move beyond meme coin status and establish itself as a serious player. SHIBUSD is currently trading at $0.00000950 on the daily chart: TradingView.com and the numbers seem to be consistent. Data from IntoTheBlock shows a notable surge in large holder inflows, with whales amassing a whopping 2.31 trillion SHIB in just two days. This means increased interest and participation from major players is likely to accelerate the rally. SHIB 7-day price action. Source: Coingecko SHIB Whale Inflow: Building Bullish Momentum The sudden influx of large holder purchases is a strong bullish indicator and suggests that whales see value in SHIB and are positioning for potential profits. But is this all exaggeration, or is there substance behind the words? SHIB’s future remains uncertain, but several factors support the claim. Community Strength: SHIB boasts a passionate and vocal community and is often known to drive price growth through sheer passion and social media presence. Exchange Listings: Meme Coin has secured listings on major exchanges such as Kraken and Coinbase, increasing its accessibility and mainstream appeal. ShibaSwap Ecosystem: The SHIB team is actively developing its own decentralized exchange (ShibaSwap) and other projects, potentially adding utility and long-term value. Breaking the target of the 1.3 trillion SHIB barrier became the focus of attention, symbolizing a pivotal moment for this meme coin. With the recent surge in large holder inflows and a possible technical break above key resistance levels, Shiba Inu appears to be on the verge of a significant leap forward. Related Reading: Bitcoin Returns Above $48,000 – Is This Level a Springboard for $52,000? Featured image from Adobe Stock, chart from TradingView
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