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Despite the general slowdown in the market. Shiba Inu It is having difficulty gaining strength, but a key support level may be approaching. Supported by a massive 40 trillion SHIB trading volume, data from the In/Out of the Money Price (IOMAP) gauge suggests that if the SHIB continues to decline, it will activate... Strong support The level is around $0.000022.
Because 23,170 addresses have accumulated Gray In this price range, which makes it a stronghold of a bull market, this level is crucial. Historically, these support groups have given assets the stability they need to make significant recoveries. SHIB price could act as a trigger if it approaches this area, relieving selling pressure and giving bulls an opportunity to make gains.
SHIB's price is currently at $0.00002236, just above the critical support area shown by IOMAP. With the 100 EMA providing further support, SHIB price appears to be consolidating on the daily chart. For the asset to resume its upward trajectory, it must overcome the resistance at $0.000025.
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Another level of complexity is added by the low trading volume at the moment. The asset's ability to break through significant resistance levels is limited by low trading volume, which may also be a sign of waning downside momentum. As a result, an equilibrium can be identified between sellers defending the $0.000025 resistance level and buyers entering at the $0.000022 support level. GrayThe next important step.
Activating the $0.000022 support could stabilize the asset and lay the foundation for a recovery if SHIB price continues to decline. Without significant external influences, SHIB is unlikely to fall freely below this level given the large trading volume at this level.
With less chance of further decline, this area is a potential entry point for investors. On the other hand, a bearish signal would be a break below this level, which could lead to a test of the $0.000020 mark. The key factor in determining SHIB's price path in the short term will be its ability to maintain the $0.000022 support. Upside momentum could be renewed if this level is successfully defended; A breakdown may indicate additional declines.
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