Shiba Inu (SHIB) has reached a crucial on-chain range where 41 trillion tokens are held by a significant number of addresses, marking a potential turning point for the coin’s next major move. According to IntoTheBlock, 66,090 addresses hold between $0.000012 and $0.000013 worth of SHIB, creating a key barrier that may determine its short-term trajectory.
A breakout above this range could trigger additional gains, potentially taking SHIB over $0.000013 and possibly to $0.000014. However, if the coin fails to hold above this range, it may face increased sell pressure, which might pull the price toward recent support levels near $0.000011.
Shiba Inu’s price is currently up 3% weekly, and its overall trend has been positive since April 16 when it reached a low of $0.00001147. The coin has steadily ticked higher, allowing it to surpass the closely watched daily Simple Moving Average (SMA) 50 at $0.0000125.
As Shiba Inu’s price behavior around the SMA 50 is being watched, a decisive break could trigger further gains, while a drop would extend its current consolidation. With the broader cryptocurrency market gaining fresh momentum and Bitcoin surpassing $88,000, investors will be closely monitoring Shiba Inu’s next move.
Source: https://u.today/41-trillion-shib-range-hit-what-comes-next-for-shiba-inu-price