The dog-themed meme coin Shiba Inu (#SHIB ) is fast approaching a crucial price zone that could dictate its short-term trajectory. According to data from IntoTheBlock via Sentora, nearly 516.12 trillion SHIB—held by 116,430 addresses—was accumulated between $0.000016 and $0.000019. As #SHIB inches toward this zone, market watchers are preparing for potential price action.
Currently, SHIB is trading at $0.00001559, up 4.95% in the past 24 hours and 18% this week, continuing a six-day winning streak that began on May 5. Earlier Saturday, SHIB reached a high of $0.00001611, a level last seen in February 2025.
Key Technical Levels:
Support: $0.000014 – $0.000016 (18.33T SHIB held)
Resistance: $0.000016 – $0.000019 (516.12T SHIB held)
Next Resistance Target: $0.000019 – $0.000024 (178T SHIB held by 136,040 addresses)
50-day SMA (Support): $0.00001286
200-day SMA (Resistance): $0.00001835
Potential Scenarios:
1. #bullish Breakout:
If SHIB breaks above the $0.000019 barrier with strong momentum, additional buying pressure could push the price toward the next target zone of $0.000022–$0.000024.
2. Resistance Rejection:
A failure to clear the $0.000016–$0.000019 range could trigger profit-taking, leading to a short-term pullback and possible retest of support around $0.000014–$0.000016.
Conclusion: #SHIB is at a pivotal juncture. With over 500 trillion tokens positioned near break-even levels, upcoming price action could spark either strong resistance or a bullish breakout. Investors are closely watching for confirmation in either direction.