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price Shiba Inu (SHIB) The market is having a great day today, rising almost 10% during the trading session. With the price of the popular meme-inspired cryptocurrency regaining key support at $0.000024, all eyes are on the next crucial barrier at $0.00003.
This price level seemed unbreakable, but was lost to the Shiba Inu icon at the start of the new year.
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However, the recent price action of SHIB gives some sort of indication that this important level will be overcome again. Some may argue that the price of cryptocurrencies is more metaphorical than real, but with on-chain data supporting the performance of the tokens, we get some clues to what lies behind the price figure.
For example, in the case of Gray At a price of $0.00003, there is a “barrier” worth about 65.46 trillion tokens. This equates to exactly $1.58 billion purchased by 203,750 wallets in the range of $0.000024 to $0.00003 per SHIB.
If buyers are able to digest these potential sales,... Shiba Inu symbol It will receive a significant boost in its march towards the desired price point.
Remember, this volume of SHIB is currently causing losses to holders, and there are more to come, as a total of 356,120 addresses containing 65.2 trillion SHIB are currently experiencing losses. They may start selling.
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The question is whether the buying power of the bulls will be enough to absorb this liquidity, and whether those who currently have negative P&Ls on SHIB will want to unload, at least at the break-even point.
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