Shiba Inu on its way to $0.00003: SHIB’s battle against the 18 trillion barrier!
The dog-themed cryptocurrency Shiba Inu (SHIB), which has increased 4% in the past day to $0.000025 at the time of writing, is looking to continue its upward trend.
Positive attitude in the Shiba Inu community and the larger cryptocurrency market, including continuous advancements in Shibarium, its Layer-2 blockchain, has propelled the latest price spike. Shibarium has crossed 500 million transactions in a big milestone.
Even while whale activity seems to have slowed down recently, ordinary investors appear to have taken notice of increased activity on the Shiba Inu network.
Everyone will be watching to see where the SHIB price moves in the days ahead. The next short-term target for the price of SHIB is still $0.00003, the point at which the Shiba Inu rally paused on November 12. A crucial test of the token's bullish momentum is this resistance, where a sizable amount of SHIB has been purchased.
IntoTheBlock reports that 62,470 addresses purchased 18.66 trillion SHIB at an average of $0.000028 between $0.000027 and $0.00003. Failure to break through could result in a short-term decline, while breaking through could open the door for SHIB to achieve additional gains.
Price action for Shiba Inus
The price surge of Shiba Inu stalled at the $0.000030 level on November 12, suggesting that bulls were taking profits.
On November 15, Shiba Inu's price dropped to a low of $0.0000229 after three days of falls, as buyers took advantage of the drop. Buyers may attempt to push Shiba Inu beyond $0.000030 once more if the price of SHIB maintains its current recovery. Shiba Inu may rise to $0.000033 and eventually $0.000039 if they are successful.
The next big substantial support for the Shiba Inu token was reached when 93,972 addresses purchased 94.12 trillion SHIB at an average price of $0.000022 between $0.000019 and $0.000024, according to IntoTheBlock data.
Shiba Inu may therefore fluctuate for a few days within the wide range of $0.000030 to $0.000013 if the price of SHIB drops from the current level or the above resistance and breaks below $0.000022 in the upcoming days.
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