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SHIB Fluctuates At 0.00001234 USD: Can Shiba Inu Escape The Liquidity Trap?
Shiba Inu is in a challenging situation as SHIB price is currently trading at nearly $0.00001238. This price is both important and problematic. Recent bullish price movements suggest promise, but SHIB remains stuck in a narrow margin on the chain as its billions of tokens are concentrated at key value points. Market data shows that Shiba Inu price shows signs of upside potential after crossing the 50-day EMA; However, significant overhead resistance makes the long-term bullish path uncertain. An analysis by IntoTheBlock reported on SHIB on the front page, showing that over 66,000 addresses hold more than 41 trillion SHIB in the range of $0.000012 to $0.000013. This high token concentration held close to the breakeven point makes achieving a bullish value increase difficult. Without new buying interest in the market, Shiba Inu may struggle to break out of this range, potentially leading to sideways trading or even a price decline. Why do large liquidity zones suppress the price of Shiba Inu? An important range for the price of SHIB is between $0.000012 and $0.000013. Approximately 41.89 trillion Shiba Inu tokens are held within these ranges. Such massive accumulation forms a significant supply barrier, potentially preventing any bullish moves. Breaking through this threshold could generate short-term profits, but SHIB will quickly encounter another major resistance level. In addition to the level $0.000013, there is another liquidity zone containing 15 trillion tokens held by nearly 18,000 addresses. The higher range, between $0.000013 and $0.000014, is a potential trap where early investors may rush to sell and break even. These large concentration levels reduce momentum and make the price of Shiba Inu sensitive to negative signals. What do technical signals suggest for the price of SHIB? From a technical standpoint, the recent closing price of Shiba Inu on its 50-day EMA provides a bullish signal. However, trading volume remains low. This indicates that market participants are acting cautiously. Without a reliable increase in volume, any further bullish moves may lack the necessary strength to break through resistance levels. The relative strength index is currently at around 54, well away from overbought levels. Theoretically, this technical position allows for further upward movement. However, the combination of stagnant volume and selling pressure may create an unstable environment. Any bullish movement of SHIB may still be limited unless the technical indicators become more closely aligned in favor of buyers. What is the latest SHIB price prediction? The immediate path for Shiba Inu's price depends on maintaining momentum above the crucial level of $0.000013. A clear breakout could strengthen the outlook, pushing the asset into the range of $0.000014 to $0.000019. This area holds over 547 trillion SHIB, representing a significant supply pressure that could pose the biggest challenge for the digital currency.
On the contrary, if SHIB cannot hold the current support range of $0.000012 to $0.000013, as seen in the SHIB/USD chart, the price may drop to the level of $0.000011. This lower boundary serves as support during the recent market downturn. However, a drop below this point could signal a broader recession, potentially erasing recent gains and damaging the overall positive sentiment of holders. What news about SHIB could impact the price of Shiba Inu? As the SHIB price consolidates in a narrow range, investors are wondering if a significant breakout or collapse is imminent. This tight area increases market uncertainty regarding the near-term direction of the token. Available on-chain data suggests that SHIB is in a holding pattern, clearly waiting for a strong catalyst before any major price prediction changes can occur. However, positive results are still within reach for Shiba Inu holders. Positive news about SHIB or a broader market increase could provide the necessary momentum to break through resistance levels and help reset the bullish movement. Such developments could ultimately break the current stalemate and potentially reward patient holders who are closely monitoring the market.