In recent weeks, the Shiba Inu token has demonstrated renewed strength, surpassing significant resistance and temporarily approaching the $0.000015 mark. However, current metrics indicate potential market changes.
Current Price Overview of Shiba Inu
The recent increase in Shiba Inu is due to exceeding historical resistance levels; however, the price is currently under pressure. Over 200 trillion SHIB tokens are in circulation, accounting for 20.78% of the total supply.
Market Psychology of Holders
The chart indicates that a significant portion of holders are currently in profit, which may influence market dynamics. However, 75% of holders are still showing losses, creating a psychological resistance level and leading to expectations for better exit points.
Outlook and Short-Term Predictions
The current price of Shiba Inu is dependent on the $0.00001450 level. A decline below this level may trigger a more substantial corrective move. Holding above $0.00001360 and support at the 200 EMA will be crucial for regaining bullish momentum.
Shiba Inu is at the edge of a potential breakout or distribution, and current market behavior will require careful monitoring of key levels.
