55 Trillion Shiba Inu (SHIB) to Be Activated
2024-11-19

A substantial support cluster involving roughly 55 trillion tokens has been revealed by on-chain data, indicating that Shiba Inu is nearing a pivotal moment. According to the data provided, this cluster indicates a significant concentration of buy-ins in the $0.000024-$0. 000025 range. 
This range, which includes about 40–56K addresses, creates a crucial basis for SHIB's price stability and possible growth trajectory. SHIB is currently trading close to this support zone on the price chart, demonstrating its resilience in the face of wider market volatility. Technically and psychologically, the 55 trillion SHIB cluster acts as a safety net. SHIBUSDT Chart by TradingView">
The 50-day exponential moving average (EMA), which closely resembles this range, supports this even more. Heavy on-chain activity levels like these have historically served as springboards for upward momentum, assuming that external market conditions hold up. Additionally, the on-chain data shows that roughly 47.65% of SHIB addresses are in the money, indicating a sound balance between accumulation and profit-taking. 
As long as the price does not drop below the $0.000024 mark, which could trigger selling pressure from the 115.25K addresses that are currently out of the money, this dynamic could boost investor confidence. Breaking above the current resistance at $0.000026 would provide SHIB with immediate upside.
Although this level has historically served as a rejection zone, if it is broken with significant volume, it may pave the way for higher highs. In contrast, if SHIB is unable to maintain the crucial $0.000024 support cluster, it may experience a sharp decline and possibly test the next significant support, which is located around $0.000021. Less market activity is indicated by tapering trading volumes, which may be a sign of consolidation prior to a clear breakout.