Shiba

Factor

Read

Shiba Inu

Billion

<ul> 
 <li>With 87.36% of Shiba Inu’s circulating supply held by 269,860 addresses, there is resistance to its rally to $0.00002.</li> 
 <li>Despite a recent dip to $0.00000987 following a brief surge that eliminated one zero, Shiba Inu enthusiasts remain optimistic.</li> 
 <li>Bitcoin’s recent volatility, leading to a 3.7% drop in the global crypto valuation, has impacted Shiba Inu’s price.</li> 
</ul> 
Shiba Inu (SHIB) enthusiasts are closely watching the crypto market as the token faces a critical hurdle on its journey toward a potential rally to the coveted $0.00002 mark. 
Influenced by Bitcoin’s (BTC) recent instability, the broader crypto market saw a 3.7% decline in global valuation in the past 24 hours. <a href="https://www.tradingview.com/symbols/SHIBUSD/">Shiba Inu’s price</a> had a volatile ride recently, briefly surging and eliminating one zero on Thursday, January 11, only to quickly drop back to the $0.000009 range.&nbsp; 
The last time the cryptocurrency traded around this level was in May 2022, and since then, the token has been on a downward trajectory, witnessing a decline of over 50%. Despite this setback, Shiba Inu enthusiasts remain optimistic about the token’s potential ascent to $0.00002.&nbsp; 
A substantial 87.36% of the total circulating supply, owned by 269,860 addresses, acts as a formidable barrier between the existing price and the $0.000019 threshold. The concentration of SHIB tokens among a relatively limited number of investors poses a potential impediment, given that their decisions may exert a significant influence on the token’s value. 
The recent dip to $0.00000987, coupled with Bitcoin’s market fluctuations, adds complexity to Shiba Inu’s journey to $0.00002. Enthusiasts eagerly await developments in the coming days, hoping for breakthroughs in overcoming the resistance that currently impedes the token’s upward trajectory. 
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4> 
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/vaneck-forecasts-eth-surge-to-11800-by-2030-competing-with-u-s-bonds/">VanEck Forecasts ETH Surge to $11,800 by 2030, Competing with U.S Bonds</a></li>
 <li><a href="https://cryptonewsland.com/michael-saylor-responds-to-mike-tyson-chooses-bitcoin-over-ethereum/">Michael Saylor Responds to Mike Tyson, Chooses Bitcoin Over Ethereum</a></li>
 <li><a href="https://cryptonewsland.com/splinterlands-breaks-one-billion-battles-joins-terablock-bridge/">Splinterlands Breaks One Billion Battles, Joins Terablock Bridge</a></li>
 <li><a href="https://cryptonewsland.com/78-of-bitcoins-circulating-supply-is-now-in-self-custody/">78% of Bitcoins Circulating Supply is Now in Self-Custody</a></li>
 <li><a href="https://cryptonewsland.com/shiba-inu-surge-whales-drive-price-supply-shrinks/">Shiba Inu Surge: Whales Drive Price, Supply Shrinks</a></li>
</ul> 
The post <a href="https://cryptonewsland.com/shiba-inus-uphill-battle-key-factor-impeding-potential-price-surge/">Shiba Inu’s Uphill Battle: Key Factor Impeding Potential Price Surge</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.

Shiba Inu’s Uphill Battle: Key Factor Impeding Potential Price Surge

Crypto News Land

Other articles published on Jan 13, 2024

80+ Protest: Court Urged to Rework FTX Payout Plan Amid BTC 128% Surge

Web3 breaks ground with the convenience of a consumer-centric approach | Opinion

MicroStrategy Co-Founder Michael Saylor Sells $20M in Shares

SEC Approves 11 Spot Bitcoin ETFs Amid Market Movements

Could SHIRYO Crypto Price Exhibit Rocket Momentum In The Future?

Brace For Impact: MicroStrategy’s Michael Saylor Is Selling Shares To Buy More Bitcoin

Join our free newsletter for daily crypto updates!