Currently, there is little volatility in the price of Shiba Inu (SHIB). SHIB has been trading at $0.00000813 as of the most recent data, and it has been there for the previous seven days. One important statistic, global in/out of the money (GIOM) by IntoTheBlock, might offer some clues. This lack of price movement may be an indication of a major shift.
For every address having a balance, the GIOM statistic shows the average price at which tokens were bought. The address is “in the money” if the current cost exceeds the average cost; if it is less, it is “out of the money.” This indicator indicates that just 76 trillion SHIB tokens are required for the price to increase. This implies that many SHIB owners are presently “in the money,” which may serve as a level of resistance for the cryptocurrency.
Technically speaking, the price of SHIB’s low volatility can be a double-edged sword. It shows a lack of purchasing pressure on the one hand, but also that less liquidity is required for the price to rise. This may be useful if there is a rapid increase in purchasing power because it would take less money to raise the price.
In addition, forthcoming changes to the Shiba Inu ecosystem, such the resumption of Shibarium, may spur price movement. Although there were some early problems, including as more than 1,000 ETH becoming caught in the bridge, the relaunch may affect market sentiment and maybe increase the price.
The GIOM measure and the current low volatility both point to a degree of resistance for SHIB, but they also provide a chance. Due to the little liquidity required, a rapid surge in purchasing power might easily drive the price higher.
