On-chain analytics has uncovered a sizable support cluster with over 55 trillion tokens, suggesting that Shiba Inu is approaching a critical juncture. This cluster suggests a notable concentration of buy-ins in the $0.000024–$0.000025, based on the data presented.
This range—which comprises around 40–56K addresses—provides a vital foundation for the pricing stability and potential development trajectory of SHIB. SHIB is showing its tenacity in the face of broader market turmoil by trading near this support zone on the price chart right now. From a technical and psychological perspective, the 55 trillion SHIB cluster serves as a buffer.
This is also supported by the 50-day exponential moving average (EMA), which closely follows this range. In the past, high levels of on-chain activity have acted as launching pads for rising momentum, provided that external market conditions remain stable. Furthermore, around 47.65% of SHIB addresses are in the money, according to the on-chain statistics, suggesting a healthy balance between profit-taking and accumulation.
This dynamic might increase investor confidence as long as the price stays over $0.000024, which could lead to selling pressure from the 115.25K addresses that are currently out of the money. If SHIB were to break over the present resistance level at $0.000026, it would immediately see an increase.
Even though this level has traditionally been a rejection zone, greater highs might be possible if it is broken with a lot of volume. However, if SHIB fails to hold onto the critical $0.000024 support cluster, it may drop precipitously and perhaps test the next important support, which is situated at about $0.000021. Tapering trade volumes are a sign of less market activity and might imply consolidation before a decisive breakthrough.
