The price of Shiba Inu dropped by one zero after regaining the psychological $0.00001 threshold. At this moment, the future of SHIB is in jeopardy as bulls fight valiantly to keep bears from taking back this territory, which may result in more drops.
SHIB was modestly higher in the previous day at $0.000010 at the time of writing.
Shiba Inu is involved in a wide resistance range between $0.000010 and $0.000025, according to statistics from IntoTheBlock, where more than 387,000 addresses purchased about 643 trillion SHIB.
To concentrate on a narrower area, the largest barrier that inhibits SHIB from going any higher is between $0.00001 and $0.000014.
In this location, 231,000 addresses collectively bought 257 trillion SHIB, which might result in selling pressure if these addresses opt to cash out if the price hits this level.
This might make it significantly more difficult for SHIB to succeed without a lot of purchasing pressure. In the $0.000009 range, over 10.3 trillion SHIB were purchased, providing important support in case prices continue to fall.
Shib Burn Twitter reports that 2,993,024 SHIB tokens were burned in two transactions during the course of the last 24 hours.
Shiba Inu: most loved in US and India
Shiba Inu, which accounted for 46.7% of interest among the top meme currencies in 2023, is by far the meme money that people are most interested in, according to CoinGecko’s poll.
Shiba Inu (SHIB), which has drawn 60.7% of the nation’s interest in meme coins so far this year, is the most popular meme money in the United States. Shiba Inus are also a well-liked breed in India.
It remains to be seen if SHIB’s popularity will spur fresh demand, which would be advantageous for its pricing.
