41 Trillion SHIB Range Sets Stage for Critical Price Move
22.04.2025 06:51
Dog-themed cryptocurrency Shiba Inu (SHIB) has reached a crucial on-chain range where 41 trillion tokens are held in a tight price band between $0.000012 and $0.000013, a level that could determine its near-term price direction. According to IntoTheBlock, 41.89 trillion SHIB tokens are concentrated in this range across over 66,000 addresses. This concentration creates a technical barrier; breaking above it could trigger further gains moving the price to potentially $0.000013 or even $0.000014, while any rejection may lead to increased sell pressure and a drop towards support levels near $0.000011. The news comes amid broader bullish momentum in the cryptocurrency market, with Bitcoin (BTC) recently surpassing $88,000, and technical indicators suggesting increased investor optimism. Market participants are closely watching SHIB’s performance near its daily SMA 50, as it could provide the decisive signal for a breakout or continued consolidation.
SHIB is at a pivotal juncture with a significant concentration of tokens in a narrow price range. A successful breakout above the $0.000012-$0.000013 band may catalyze short-term gains towards $0.000013-$0.000014, supported by improving investor sentiment. However, should the coin fail to maintain this key level, increased sell pressure could pull the price back to support levels around $0.000011, indicating a mixed but generally positive outlook for a breakout scenario.
Bitcoin, benefiting from robust institutional buying and a recent price surge above $88,000, reinforces overall market optimism. The ongoing bullish trend and significant inflows suggest that BTC’s price may continue its upward trajectory in the short-term, bolstered by strong market fundamentals and broader investor confidence.
Cardano (ADA) is referenced as a potential beneficiary if the bullish breakout in the broader market materializes. Speculative forecasts suggest a possible 27% rally if technical patterns align with positive market trends. While this outlook remains contingent on external validation from Bitcoin’s movement and overall market sentiment, ADA could experience notable gains in a supportive environment.
Sources
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