Shiba Inu (SHIB) is on the verge of a big price jump, and it’s all about hitting the 110 trillion SHIB mark. If SHIB breaks through this level, it could double in value and hit new highs.
Analysis shows that to break even, over 327,000 addresses would need SHIB to hit $0.00005. Surpassing this key level could lead to significant gains for SHIB, possibly setting new record highs by knocking off a zero from its price.
Shiba Inu (SHIB) Faces Crucial Breakeven Point Amidst Potential Surge
According to IntoTheBlock’s breakeven price indicator, 110.27 trillion SHIB were acquired by 327,200 Shiba Inu addresses within the range of $0.000026 to $0.000051, at an average price of $0.000034. This implies that over 327,000 addresses would need SHIB to rise to $0.00005 to break even.
The 110 trillion SHIB tokens represent a significant barrier, but they also hold the key to a potential surge in value. A jump to $0.00005 from Shiba Inu’s current prices would mark a 100% increase in SHIB value. What amplifies the significance of this threshold is the potential to eliminate a zero from the SHIB price if breached successfully.
Adjacent to the 110 trillion SHIB threshold is a range where 37.13 trillion SHIB were purchased by 126,520 addresses above the $0.000051 price point. Conquering this level could also erase a zero from SHIB’s price and propel it to new all-time highs.
Shiba Inu: Potential Bullish Breakout on the Horizon
Shiba Inu’s price is showing promising signs of a bullish breakout, with crypto analyst Ali identifying a potential bull flag pattern on its daily chart. This pattern could drive SHIB’s price up to $0.000072323.
In the past 24 hours, SHIB surged by 7.75%, reaching $0.000025. This surge is in line with the recent rally seen in dog-themed cryptocurrencies, indicating positive sentiment in the market.
Over the last four days, Shiba Inu has been steadily climbing towards a key resistance level at the daily MA 50, currently at $0.0000263. If SHIB breaks above this level, it could signal a shift in its trading range and potentially trigger further upward momentum.
This potential breakthrough at the daily MA 50 level presents an attractive opportunity for investors and traders. It suggests the possibility of significant gains ahead, emphasizing the potential for bullish momentum in the short term.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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