Shiba Inu (SHIB) Bull Rally Faces 65.46 Trillion Meme Coin Bear Block

News Fri, 17/01/2025 - 12:56 A A A Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News The price of Shiba Inu (SHIB) is having an incredible day today, soaring nearly 10% during the course of the trading session. With the price of the popular meme-inspired cryptocurrency regaining key support at $0.000024, all eyes are on the next crucial barrier at $0.00003. Advertisement Once seemingly unbreakable, this price level was lost for the Shiba Inu token at the beginning of the new year. Related Fri, 01/17/2025 - 09:52 Shiba Inu (SHIB) Eyes Multi-Week High as Key Metrics Skyrocket Godfrey Benjamin HOT Stories 'Rich Dad Poor Dad' Author Reveals Big Asset Similar to Bitcoin: ‘Supply Low, Demand Up’ Bitcoin Reclaims $102K Amid Speculation About Strategic Reserve XRP Surpasses Bitcoin in Trading Volume on Coinbase XRP ETF Approval Odds Surge as Token Hits New Record High However, SHIB's recent price action is giving some sort of indication that this important level will be conquered once again. Some may argue that the price of cryptocurrencies is more metaphorical than real, but with the on-chain data supporting the performance of tokens, we get some evidence of what is behind the price number. Advertisement SHIB to USD by CoinMarketCap For example, in the case of SHIB and its price of $0.00003, there is a "roadblock" worth approximately 65.46 trillion tokens. This is exactly the equivalent of $1.58 billion bought by 203,750 wallets in the range of $0.000024 to $0.00003 per SHIB. Source: IntoTheBlock If buyers are able to absorb this potential sell-off, then the Shiba Inu token will receive a significant boost in its march toward the coveted price point. Remember, this volume of SHIB is currently causing losses for its holders, and there are more to come, with a total of 356,120 addresses holding 65.2 trillion SHIB currently experiencing losses. They may start to sell. Related Thu, 01/16/2025 - 14:42 4.49 Trillion SHIB Tokens Moved, What's Next? Tomiwabold Olajide The question is whether the buying power of the bulls will be enough to absorb this liquidity, and whether those who currently have a negative PnL on their SHIB will want to unload, at least at break-even. Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. #Shiba Inu #Shiba Inu (SHIB) News #Shibarium