Shiba Inu (SHIB) Price Surge: Eyes on $0.000018 Resistance

• Shiba Inu has been predicted to secure the $0.000017 to $0.000018 range and subsequently capture the $0.000018 and $0.000019 area once bulls dominate the market. 

• According to data, 416.47 trillion SHIBs were purchased by 10,330 addresses at the $0.000018 mark, and 419.58 trillion SHIBs were purchased within the $0.000017 to $0.000018 range. 

Shiba Inu (SHIB) made an impressive rebound yesterday, June 26, after the entire crypto market saw “green” for the first time in several days. According to our data, Shiba Inu surged 5% to trade at $0.0000176. However, this rally was short-lived, as the asset took a nosedive and plunged below a crucial support level. At press time, the meme coin had fallen 4% in the last 24 hours and 9% in the last seven days to trade at $0.00001689. 

The immediate goal of Shiba Inu’s bulls is to seize control at the $0.000017 to $0.000018 range where 419.58 trillion SHIB exists. Our review of IntoTheBlock’s Global In/Out of Money shows that this number of SHIBs within the range were purchased by 21,010 addresses. Interestingly, the range could pose a serious resistance challenge, with selling pressure expected to be high as many addresses seek to sell to break even their positions. Also, $0.000018 appears to be the most crucial resistance point, as 416.47 trillion SHIB were purchased by 10,330 addresses at that mark. According to analysts, a successful breach of this region could have positive implications by strengthening the current momentum and preparing the grounds for future surges. 

.@K9finance DAO has made another $BONE purchase. Also left an Easter egg in our latest deployment on Friday on @ShibariumNet
First person to screenshot & comment the surprise wins $50 in $KNINE— Buzz.Shib | Shibarium (@buzzdefi0x) June 25, 2024

Other Resistance Price Range Ahead of Shiba Inu

After bulls successfully reclaim the $0.000017 to $0.000018 range, IntoTheBlock data discloses that the next crucial stage lies between $0.000019 and $0.000025. Before that, bulls would have to totally “capture” the range between $0.000018 and $0.000019. In all, an analyst named Sam_TCR sees the main resistance level at $0.00002320. 

According to him, Shiba Inu could likely rise to $0.0000255 and reach a high of $0.0001 once it breaks above the $0.00002320 mark. Interestingly, this comes when the asset’s burning rate increased significantly, with the network recording a 12,000% increase. According to reports, a staggering 5.1 million SHIB was burnt, the largest single transaction that took place on June 17. At that time, the burn rate increased to 24%, with a total of 12,955,750 SHIB tokens. 

Recently, Crypto News Flash also reported on a bold prediction by analyst Javon Marks, envisioning the price to rise as high as $0.0000886 in the next stage of its bull run. Around the time of the prediction, Shiba Inu was hovering within the $0.00002632 and $0.00002057 price range.

With this uptrend being such a significant one, with Shiba Inu making an over +810% move since mid-2023, another near 4X that these breakout(s), indications, and patterns can be calling for may just be more than feasible in these prices and could come in quickly! Unprecedented levels in SHIB (Shiba Inu)’s price could be on the way…

Similarly, analyst Ashish has predicted that the price could surge by 500% to hit $0.00008089 in the next bull run.