One of the most significant areas that Shiba Inu has faced in recent months is currently relevant. Between $0.000014 and $0.000019, the price has primarily aligned with a historically dense accumulation area, consisting of 573 trillion tokens $SHIB .
Held in over 174,000 wallets.
This essentially creates a psychological support group for the battle and a liquidity magnet at the same time. According to the price movement, $SHIB is consolidating below the upward trend line after breaking down. The 50 EMA acts as a ceiling, and the 100 EMA is close to providing additional downward pressure. Furthermore, the price has not regained the critical support at $0.000014, which now acts as resistance, reinforcing the short-term bearish bias.
The low volume indicates that institutional or retail momentum is absent at the moment. Additionally, the Relative Strength Index has dropped below 50, indicating that market sentiment is shifting toward a neutral-bearish area. However, we learn more from on-chain data. Now the massive 573 trillion $SHIB group acts as a practical barrier between further declines and increases.
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These holders who are out of the profit zone may become forced sellers if the price does not return to this range, which will increase the downward pressure. As most wallets are currently holding losses, the likelihood of capitulation increases unless a significant reversal occurs. It is now at this level that a new SHIB story begins.
A recovery could happen quickly if it can gain momentum and break back above $0.000014 due to short position covering and renewed hope. But if that does not happen, SHIB may revisit lower liquidity areas near $0.000011 or even $0.000009. There will be critical daily closes in the coming days. At this point, SHIB needs to show resilience or risk being overwhelmed by the inertia of its own baggage.
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