The future of the 429 trillion Shiba Inu (SHIB) support level remains uncertain, and its outcome could have a major impact on the coin's price. Currently, SHIB is trading at a critical price point, with profitability data showing that this large support range is tied to a significant number of SHIB tokens.

If this support level breaks, increased selling pressure may lead to a deeper price correction. The price chart indicates SHIB is struggling to regain lost ground, still trading below key moving averages, which suggests a continued downward trend.

Examining the numbers, only 9.17% of SHIB holders are currently profitable, while 21.58% are at break-even, and a large 69.25% are still waiting for a price recovery. Active addresses are mostly concentrated in the $0.000018-$0.000020 range, meaning a wave of selling pressure could emerge if SHIB falls below this level.

For SHIB to show strength, it would need to break through the $0.0000217 resistance level, which could potentially push the price towards $0.0000225 and $0.000024. However, if the support level fails to hold, the next significant support level is likely around $0.000016. #shiba⚡