Shiba Inu (SHIB) is receiving attention as the volatile cryptocurrency market continues. There are already four trillion SHIB tokens floating around at the price of $0.000007 for the meme-inspired cryptocurrency.
The “In/Out of the Money” (IOM) indicator from IntoTheBlock sheds light on the SHIB distribution at the moment. The indicator determines the average price at which any address holding tokens were purchased and contrasts it with the current price. The address is said to be “in the money” if the current price is higher than the average cost. On the other hand, if the present cost is less than the typical cost, the address is “out of the money.”
There are now groups of SHIB owners located at a price differential of +/- 15% from the current level. Depending on price movement, these clusters imply possible selling pressure or purchasing power.
But it might not be an easy ride for SHIB to the next price ceiling of $0.00008. Currently, almost 15 trillion SHIB tokens are being sold at a loss. In other words, these tokens were bought at a greater cost than they are currently, which might lead to selling pressure. This barrier will need to be broken for SHIB to rise to the $0.00008 level, which would necessitate a substantial influx of purchasing power.
An effective instrument for determining the probable trajectory of SHIB’s price performance is the IOM indicator. If the price rises further, SHIB tokens that are currently “out of the money” may become “in the money,” which would lessen selling pressure and help the price rise even higher. On the other hand, if the price falls, more tokens may become “out of the money,” which might exacerbate the selling pressure.
