35,270,000,000,000 Shiba Inu Sell Wall Emerges, Will SHIB Break Out?
Shiba Inu battling major sell wall as investors evaluate market trend
Shiba Inu (SHIB) has witnessed price volatility in the past 24 hours as the coin dropped below the $0.0000128 support. IntoTheBlock data suggests that this decline could have been triggered by a sell wall that has emerged for the asset.
A sell wall in the $0.000012–$0.000013 range for Shiba Inu (SHIB) means there's significant selling pressure from holders looking to exit at these levels. With 35.27 trillion SHIB "At the Money" (i.e., break-even), many traders may be waiting to sell once the price hits or exceeds $0.000013 to realize profits or recover losses. This could:
Limit short-term price growth, as demand needs to exceed this large supply to break past $0.000013.
Indicate potential resistance at or just above the $0.000013 mark.
Suggest a critical moment—if SHIB clears the wall with strong volume, it might trigger bullish momentum.