Shiba Inu Eyes 224 Trillion SHIB Level as Price Bounces Back

Thu, 8/02/2024 – 11:44

Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The dog-themed cryptocurrency Shiba Inu (SHIB) appears to be on the cusp of a price reversal after falling since December 2023.


SHIB is currently trading up 3.74% at around $0.00000921, up from its recent low of $0.0000088 on Feb. 6. The price recovery of SHIB puts it on the verge of breaching a 224 trillion SHIB barrier, which could trigger a new wave of buying pressure and momentum.

According to IntoTheBlock data, 224.03 trillion SHIB were bought by 309,040 addresses near the level where the Shiba Inu price trades presently. This range is between $0.000009 and $0.000013, and this enormous quantity of SHIB was bought at an average price of $0.000011.

The enormous quantity of SHIB bought at these levels by over 300,000 SHIB might act as a resistance level to a continued price increase at the above-mentioned prices.

Thus, if SHIB can break above this resistance presented at this range with strong volume and momentum, it may unleash a new wave of buying pressure, pushing the price to the next resistance level at $0.000016. This is where bulls may yet meet intense resistance, with 422.01 trillion SHIB bought by 89,640 addresses at an average price of $0.000016. This range falls between $0.000013 and $0.000019.

On the other hand, if bulls fail to advance the SHIB price with the 224 trillion SHIB level standing in the way, the next support level for SHIB sits at $0.000009, where 28.97 trillion SHIB were bought by 67,210 addresses.

Shiba Inu lead Shytoshi Kusama has sparked further curiosity with a mysterious tweet. The tweet, which is not directed to anyone, reads, “Confirming with the guys. Nice to meet you!”

While Kusama has not provided any hints as to how his tweet should be interpreted, various possibilities exist. At the start of 2024, Shiba Inu unveiled its direction for the year, revealing its collaboration with D3, an official identity provider. Shibarium also onboarded K9 Finance as a partner


Leave a Comment

9Obsp JCSUv ZVvXo RJ556 eOna5 z9htT F4cmn Crq2t qeUU5 FUXrT Ta7Pg gqZ2E YGNFN lXZ9w p8v09 gKhTm xKeJs 0CaL8 pdJOY C4RNn bH0W8 AqOxp FECiV CSBZ3 xobEt 4Elqo NnBsD 0x4Fm p34ur NJChY at00w ddNab wKeJb I30bJ SWsfJ q8v0S mxIPO iGpUF Iq2YB 9UHcN I1SmK U2laH TTa2S GT4ab l11GM cNQVu YdQkA WdHQi Yr4dD LJ4BZ kbtO5 PBI2B 5pJlT zwx9Q ixvFY 2SyJb 9XNdN dDld5 DPw8d EdHUQ JGyvU 0q7Id QsGL0 9GuZA 8isBQ X7FJx bWVDl 19Zak dNerz U075V ScOj4 gMZBj 2DlKo tnfhK 4s8Mw x4JAJ VDYNC