Shiba

Shiba Inu

Daily

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
As <a href="https://u.today/shiba-inu-skyrockets-243-yet-shib-price-not-moving" rel="noopener noreferrer nofollow">Shiba Inu</a> faces a significant price dip, the next massive support range identified by on-chain data might provide a crucial point of reference for SHIB's price action. The range between $0.000008 and $0.000014, where 155.15 trillion SHIB were acquired, according to on-chain data, could act as a significant buffer against further declines.
According to <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">IntoTheBlock</a> data, 155.15 trillion SHIB were bought by 358,200 addresses between $0.000008 and $0.000014 at an average price of $0.00001.
This range signifies a price level where a large number of investors have entered the market. These holders are likely to defend this range, potentially buying more SHIB to prevent the price from falling below their average entry point. This behavior could create a floor for the SHIB price.
A considerable amount of SHIB was bought within this range, indicating strong buying interest, which could help sustain the price and potentially drive a rebound if market conditions improve. <img data-entity-type="file" data-entity-uuid="7b5dbda9-4b25-4a6a-8d4f-0e53bdcbb2c1" src="https://u.today/sites/default/files/inline-images/04072024%200000.png"><a href="https://www.tradingview.com/x/D0uHwFsi/" rel="noopener noreferrer nofollow">SHIB/USD Daily Chart, Courtesy: TradingView</a>
In the case of a price recovery, bulls may need to immediately push the SHIB price over $0.000020. If they accomplish this, SHIB may begin to recover toward $0.000025. If the Shiba Inu price continues to fall, SHIB might go to $0.000014, then to $0.000010.
<h2 id="crypto-market-sell-off">Crypto market sell-off</h2>
The price of Shiba Inu is falling amid a larger sell-off on the cryptocurrency market, with $321 million liquidated in the last 24 hours, according to <a href="https://www.coinglass.com/" rel="noopener noreferrer nofollow">CoinGlass</a> data.
At the time of writing, SHIB had fallen 9.51% in the last 24 hours to $0.00001526, and 10.25% in the last seven days. Bitcoin's price fell below $58,000 as the majority of cryptocurrencies sold off.
Much of the blame for the overall drop, particularly in the price of Bitcoin, has been thrown at the feet of the defunct Japanese crypto exchange Mt. Gox, which is set to begin repaying around $8.5 billion in BTC to its creditors in early July.

Shiba Inu Next Massive Support Unveiled as SHIB Price Dips 9%

Table of Contents

U_Today

Other articles published on Jul 4, 2024

Venom Expands into India with Dual Listings on WazirX and CoinDCX

MoonBag Liquidity Plan Makes It The Top Crypto Presale Of 2024 Amidst Stacks And Polkadot’s Inter...

Beacon of Light for Investors with MoonBag Referral Rewards – Generates over $3.1m in its presale...

EOS (EOS) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

The 3 Hottest Trump Crypto Tokens Right Now!

Why Bitcoin hasn’t surged? Key industry leaders may hold the Answer

Join our free newsletter for daily crypto updates!