Shiba Inu (SHIB), the popular dog-themed meme coin, is approaching a critical price zone that could decide its next big move. According to fresh data from IntoTheBlock via Sentora, nearly 516.12 trillion SHIB, bought by around 116,430 holders, sits between the price levels of $0.000016 and $0.000019. As SHIB inches closer to this bracket, the market is watching closely.
At the time of writing, SHIB is trading at $0.00001559, marking a 4.95% jump in the last 24 hours and an impressive 18% gain over the past week. The overall crypto market is showing strength this weekend, with meme coins like SHIB leading the charge.
Currently, SHIB is riding bullish momentum, recording six consecutive days of gains since May 5. It even touched $0.00001611 on Saturday — a price level not seen since February.
Technically, SHIB is holding strong above its 50-day moving average at $0.00001286, which had previously capped its progress since December 2024. Traders are now eyeing the next big resistance level: the 200-day moving average at $0.00001835.
Key Scenarios to Watch
With such a massive volume (516.12 trillion SHIB) bought between $0.000016 and $0.000019, there could be heavy selling pressure if holders aim to break even. This might create resistance and slow down further price hikes.
However, if SHIB can decisively break past this zone, it could trigger a wave of new buying interest, potentially pushing prices toward the next target range of $0.000019 to $0.000024. Here, another 178 trillion SHIB is held by 136,040 addresses, with an average buy price of around $0.000022.
On the downside, failure to break above resistance could lead to profit-taking, pulling SHIB back to test lower support levels around $0.000014 to $0.000016, where approximately 18.33 trillion SHIB are currently held.#NewsTrade #BinanceAirdropNXPC $BNB
