516,120,000,000,000 Shiba Inu (SHIB) Set to Be Hit: Potential Scenarios

U.today

May 10

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Dog-themed cryptocurrency Shiba Inu (SHIB) is nearing a critical price range that could determine its next major move. According to IntoTheBlock data provided by Sentora, nearly 516.12 trillion SHIB previously bought by 116,430 addresses are priced between $0.000016 and $0.000019. The SHIB price is inching closer to this range, and eyes are peeled for what comes next.

Shiba Inu was up 4.95% in the last 24 hours to $0.00001559 as of this writing and up 18% weekly. The cryptocurrency market is surging into the weekend, with many sectors seeing double-digit percentage market value increases. Meme coins have benefited the most from this upward trend.

Shiba Inu has benefited from this bullish momentum and is on track for its sixth straight day of gains since May 5. SHIB reached highs of $0.00001611 early Saturday, a level not seen since February.

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As SHIB sustains technically above key levels, in particular the daily SMA 50 at $0.00001286, which capped its price action since December 2024, eyes are on what's next for its price, with key barrier levels, especially the daily SMA 200 at $0.00001835, in view.