Saad Ullah
Shiba Inu cryptocurrency breaks critical resistance level at $0.000012, sparking optimism about potential price growth that could eliminate a decimal zero from its value.
SHIB (Shiba Inu) Breaks Key Resistance Despite Low Trading Volume
Shiba Inu has registered a notable 3.46% price increase in the last 24 hours, bringing its value to $0.00001208. This upward movement represents a significant breakthrough as SHIB successfully cleared the $0.000012 resistance level—a threshold where the meme coin had faced multiple rejections over the past week.
The breakthrough is particularly noteworthy as it occurred despite underwhelming trading volume. In fact, trading activity decreased by a substantial 22.93% to $111.99 million during the same period when the price was rising. This divergence between price action and volume suggests that while the token is gaining value, widespread investor participation has yet to materialize fully.
Shiba Inu (SHIB) Establishes Strong Support at $0.000011
Technical indicators now point to SHIB potentially testing higher price levels, with the cryptocurrency having established robust support at $0.000011. Market analysts view this support level as potentially strong enough to fuel Shiba Inu's journey toward eliminating another decimal zero from its price structure, which would represent a significant psychological milestone for investors.
If SHIB manages to build on its current momentum, it could continue its upward trajectory as investors renew their interest in the popular meme coin. The most optimistic scenario would see SHIB losing a zero to reach $0.0001 per token—a dramatic increase from current levels that would represent a major breakthrough for the cryptocurrency.
SHIB (Shiba Inu) Whale Activity Shows 173% Increase in Large Transactions
From a technical perspective, SHIB's outlook appears promising as large transactions jumped by an impressive 173% at one point during the week. This significant increase in large-volume transfers likely indicates activity from whale investors looking to reposition their portfolios in anticipation of a potential rally.
The successful breach of the $0.000012 resistance level suggests that these large investors' projections may be proving accurate. Whale activity often precedes broader market movements, and their apparent accumulation could be a leading indicator for continued price appreciation.
Shiba Inu (SHIB) Burn Rate Rebounds by 20% as Deflationary Mechanism Returns
Meanwhile, Shiba Inu's weekly deflationary mechanism has returned with renewed vigor, showing an approximate 20% increase in burn rate. While this figure remains significantly below historic burning activity, the development signals a reestablishment of the community's commitment to reducing SHIB's circulating supply.
This resurgence in token burning has been attributed to increased activity from SHIB whales and their recent accumulation patterns. The relationship between whale accumulation and burn rate highlights the interconnected dynamics that influence SHIB's market behavior.
For Shiba Inu to maintain its current upward momentum and potentially realize the zero-loss scenario that many investors hope for, two factors appear critical: sustained increases in both burn rate and trading volume. The deflationary pressure created by token burning, combined with increased market participation, would create the ideal conditions for continued price appreciation.
The coming days will be crucial in determining whether SHIB can build upon its recent technical breakthrough and translate it into sustained momentum that could ultimately lead to the elimination of another zero from its price structure—a development that would significantly boost investor sentiment and potentially attract new participants to the market.
Saad Ullah
