Shiba Inu's soaring 11% price jump sets a new milestone with 79 trillion SHIB in circulation
In the world of cryptocurrencies, Shiba Inu, the popular dog-themed digital asset, has been making waves. In the early Sunday session, the crypto market has moved higher, and Shiba Inu is no exception, with the coin increasing nearly 11% in the last seven days.
The key support that has held Shiba Inu's price up during the recent market declines is in the range of $0.000008 to $0.000011. However, a significant resistance level has appeared where 79 trillion SHIB were previously bought. These tokens were purchased by 168,710 addresses at an average cost basis of $0.000013.
This breakthrough represents a crucial moment for Shiba Inu. If the coin manages a breakout above this barrier, it could signal renewed bullish momentum, potentially leading to a retest of higher resistance zones. This scenario often attracts buyers, pushing prices upward.
Price predictions for SHIB in the near to mid-term show a generally bullish outlook with varying price targets depending on market conditions and broader crypto trends. For instance, CoinPedia forecasts that if SHIB breaks out above $0.00006000, it could climb to around $0.00006392 in 2025, with a possibility of reaching even higher levels in subsequent years.
Other analyses suggest a wide range of potential outcomes. For example, some conservative estimates put SHIB’s 2025 price near $0.000015–$0.0000455, while more optimistic forecasts see possible highs beyond $0.0002 by the late 2020s.
The breakout at such a large supply barrier is critical because it may ease selling pressure and open the path for prices to test new resistance zones, potentially driving a swift rally if supported by strong volume and market sentiment.
However, if SHIB fails to hold its current range, support is expected in the range of $0.000008 to $0.000011. In such a scenario, the price could decline or consolidate near these support levels.
In summary, if SHIB successfully breaks the resistance at 79 trillion tokens, it is likely to trigger a bullish phase that could see the price retest and possibly surpass prior resistance levels, with prices potentially moving toward the upper predicted ranges near $0.00006 or higher in 2025. However, failure to sustain above this barrier could result in price declines or consolidation near support levels.
Thus, the expected price movement after crossing the 79 trillion SHIB barrier is a potential breakout rally leading to higher resistance zones retesting, but the precise magnitude depends on broader market forces and investor sentiment.
A whale, having bought 79 trillion SHIB tokens at an average cost of $0.000013, is now acting as a significant resistance level for Shiba Inu. This upcoming breakthrough could attract investors and lead to an increased interest in crypto trading and investing, particularly in the finance sector. If successful, it might trigger a bullish phase for bitcoin, token, and other cryptocurrencies, possibly pushing Shiba Inu's price above the predicted range near $0.00006 or higher by 2025. Conversely, a failed breakout may result in price declines or consolidation around the key support levels.
