Shiba Inu is testing an important support level. If this support level cannot be maintained, a drop may be inevitable!
- Shiba Inu is at a critical support level according to the In/Out of the Money indicator
- Shiba Inu’s focus on the DeFi sector has caused it to remain lackluster.
Shiba Inu is testing an important support level. If this support level cannot be maintained, a drop may be inevitable!
Shiba Inu Testing Critical Support Level!
According to the In/Out of the Money (IOM) indicator, while the crypto market is experiencing a revival in meme tokens, Shiba Inu (SHIB) is currently testing a critical support level of 178 trillion tokens. This important support level is based on a price close to the current market value of about 200 trillion SHIB tokens.
The In/Out of the Money indicator provides a view of the distribution among token holders by comparing the average cost of tokens held by each address with the current price. If the current price is higher than the average cost, the address is considered “in the money”. Conversely, if the current price is lower than the average cost, the address is considered “out of the money”.
Despite the rise in meme token market, Shiba Inu’s price performance has remained quite lackluster and its volatility is at a minimum level.