Shiba Inu (SHIB) Holds Crucial Support as Whales Accumulate

Shiba Inu (SHIB) Holds Crucial Support as Whales Accumulate

Shiba Inu (SHIB) is currently gaining traction from investors and analysts as it stabilizes near a crucial support level. The cryptocurrency's record-low supply and whale accumulation have sparked talk of a potential breakout.

SHIB is currently trading at around $0.00001182, slightly below the $0.000012 support band. Analysts highlight the $0.00001180 level as crucial, with holding it potentially determining SHIB's next move. A break below this level could expose SHIB to $0.00001100 and $0.00000999. However, SHIB has been consolidating within a tightening triangle pattern, bouncing repeatedly from $0.00001180 since mid-September, suggesting accumulation is underway.

Recent data from Coinglass shows a modest $638,000 inflow of SHIB on exchanges, indicating some investors are positioning ahead of October. Additionally, key resistance levels to watch include the 20-day EMA at $0.00001238, 50-day EMA at $0.00001264, 100-day EMA at $0.00001286, and 200-day EMA at $0.00001364.

Analysts have made varying price predictions for SHIB, with some forecasting a maximum price of $0.000022 in 2025 and up to $0.000076 in 2028. Despite these predictions, the coin's next move could determine whether it resumes an upward rally or faces further consolidation. Sellers remain active just under the 20-day EMA, while buyers defend the ascending trendline near $0.00001180.

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