Shiba Inu is expected to secure the range of $0.000017 to $0.000018 and subsequently reach the area of $0.000018 to $0.000019 once bulls dominate the market. Data reveals that at the $0.000018 mark, 10,330 addresses purchased 416.47 trillion SHIBs, and within the range of $0.000017 to $0.000018, 419.58 trillion SHIBs were purchased.
Yesterday, on June 26, Shiba Inu experienced an impressive rebound as the entire crypto market turned “green” after several days. Our data shows that Shiba Inu surged by 5% to trade at $0.0000176. However, this rally was short-lived, and the asset took a nosedive, falling by 4% in the last 24 hours and 9% in the last seven days, currently trading at $0.00001689.
The immediate goal for Shiba Inu’s bulls is to gain control within the $0.000017 to $0.000018 range, where 419.58 trillion SHIB exists. Analysis of IntoTheBlock’s Global In/Out of Money indicates that 21,010 addresses purchased this number of SHIBs within the range. However, this range could pose a significant resistance challenge, with high selling pressure expected as many addresses aim to break even on their positions. Notably, $0.000018 is a crucial resistance point, with 416.47 trillion SHIB purchased by 10,330 addresses at that mark.
Analysts suggest that successfully breaching this region could have positive implications, strengthening the current momentum and setting the stage for future surges. Additionally, there are other resistance price ranges ahead for Shiba Inu, with the next crucial stage lying between $0.000019 and $0.000025. Before that, bulls would need to fully capture the range between $0.000018 and $0.000019. Analyst Sam_TCR identifies the main resistance level at $0.00002320, predicting that Shiba Inu could rise to $0.0000255 and potentially reach a high of $0.0001 once it surpasses the $0.00002320 mark.
The burning rate of Shiba Inu has significantly increased, with a 12,000% rise and a total of 5.1 million SHIB burnt in a single transaction on June 17. This burning rate reached 24%, resulting in a total of 12,955,750 SHIB tokens burnt. Analyst Javon Marks made a bold prediction, envisioning the price to rise as high as $0.0000886 in the next stage of its bull run. Another analyst named Ashish predicts a surge of 500% to reach $0.00008089 in the next bull run.
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