35,270,000,000,000 $SHIB Inu Sell Wall Emerges, Will SHIB Break Out?
Shiba Inu (SHIB) has witnessed price volatility in the past 24 hours as the coin dropped below the $0.0000128 support. IntoTheBlock data suggests that this decline could have been triggered by a sell wall that has emerged for the asset.
Shiba Inu sell wall emerges at critical price level Notably, the sell wall has emerged between a minimum price of $0.000012 and a maximum of $0.000013. The average price of SHIB is set at $0.000013, placing a total of 35,270,000,000,000 SHIB "At the Money."
The holders are neither making a profit nor incurring a loss from the asset and might consider dumping some of their holdings on the market. Such a development could trigger bearish signals for the meme coin, as many remain concerned if SHIB is broken. Currently, a massive 56,900 SHIB addresses are facing a sell wall, and this development could either create consolidation for SHIB or prove a resistance.
Trading volume rises amid uncertainty As of press time, the SHIB price was changing hands at $0.00001268, a 2% decline in the last 24 hours. Despite the price decline, SHIB investors are still actively engaging with the coin, as trading volume has recorded a 4.09% uptick to $127.94 million.
