Shiba

Bull Market

Shiba Inu

Trillion

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In a recent analysis, renowned crypto analyst&nbsp;<a href="https://x.com/ali_charts/status/1733587823616520238?s=20" rel="noopener noreferrer nofollow">Ali Martinez</a> has sounded the alarm on potential obstacles looming over the surging&nbsp;<a href="https://u.today/shib-price-erases-zero-but-theres-a-catch-worth-129-trillion-shiba-inu-tokens" rel="noopener noreferrer nofollow">Shiba Inu (SHIB) token</a>.
Despite the meme coin's impressive 55% growth over the past three months, Martinez's concerns are centered around a significant hurdle that could jeopardize SHIB's future growth trajectory.
Martinez's analysis, relying on data from IntoTheBlock, reveals an eye-watering concentration of 422 trillion SHIB, held by nearly 90,000 addresses at an initial price of $0.000016. The sheer volume of these tokens, if unloaded simultaneously, could unleash a wave of selling pressure capable of denting SHIB's price and disrupting its current bullish momentum.
<blockquote>
 <a href="https://twitter.com/hashtag/ShibaInu?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ShibaInu</a> has seen a 55% increase in the last 3 months, staying relatively quiet during the recent altcoin season. While there's potential for growth ahead, <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> faces a major resistance zone. Nearly 90,000 addresses hold over 422 trillion <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIB</a> at $0.000016. <a href="https://t.co/LE6kpLb1Or" rel="noopener noreferrer nofollow">pic.twitter.com/LE6kpLb1Or</a>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1733587823616520238?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 9, 2023</a>
</blockquote>
The apprehension arises from the potential consequences of such a massive sell-off. If these large-scale holders decide to liquidate their SHIB holdings, the market could be flooded with tokens, triggering a substantial price correction.
Adding to the complexity is the fact that these addresses are currently holding SHIB at a loss, intensifying the pressure on the token's value.
<h2 dir="ltr" id="break-point">Break point</h2>
The burning question now is whether&nbsp;<a href="https://u.today/shiba-inus-shytoshi-kusama-teases-major-game-changing-announcement" rel="noopener noreferrer nofollow">Shiba Inu</a> can navigate this hurdle and sustain its growth. Despite the looming threat, SHIB has already experienced a commendable 22% surge since the beginning of December, breaching the coveted $0.00001 per&nbsp;<a href="https://u.today/top-10-shib-wallets-revealed-heres-who-holds-biggest-shiba-inu-chunk" rel="noopener noreferrer nofollow">SHIB</a> mark. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="7e6a34ab-0238-4c93-8c75-44a6c2dbee1b" src="https://u.today/sites/default/files/inline-images/SHIB_7D_graph_coinmarketcap_7.jpeg">SHIB to USD by <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
Nevertheless, the presence of this colossal concentration of tokens in whale wallets injects an element of uncertainty, casting doubt on the durability of SHIB's ongoing bullish run.

Shiba Inu Bull Market in Danger? Top Analyst Warns of 422 Trillion SHIB Threat

Table of Contents

U_Today

Other articles published on Dec 10, 2023

TRON TVL up 91.6%, Pullix could rally after launch

Crypto Industry in Georgia: Contributions and Positioning within the Global Context

The Fate of Spot Bitcoin ETFs Depends on SEC’s Response to ARK Invest!

Building Wealth With Oduwacoin Staking And HODLing

Is Solana’s Jito (JTO) Token Taking Us On A Massive Rollercoaster?

AI Rage Room Offers Smarter Smashing

Join our free newsletter for daily crypto updates!