Shiba Inu

Trillion

MN Coin

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
The world of cryptocurrencies is dynamic, and <a href="https://u.today/pepe-pepe-outperforms-shiba-inu-shib-and-dogecoin-doge-in-trading-volume">Shiba Inu</a> (SHIB) is no exception. According to recent metrics, the In/Out Of Money Around Price (IOMAP) indicator points to a significant level at $0.000008, where approximately 26 trillion SHIB tokens are currently <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all">located</a>.
The IOMAP indicator is a useful tool for understanding the distribution of a cryptocurrency across different price levels. It identifies the average cost at which tokens were purchased for any address with a balance. If the current price is higher than this average cost, the address is considered "In the Money." If the current price is lower, the address is "Out of the Money." The indicator analyzes clusters within a range of +/- 15% of the current price.
<img alt="Shiba Inu chart" data-entity-type="file" data-entity-uuid="562e1d55-994d-406f-80ee-cc2c80132aab" src="https://u.today/sites/default/files/inline-images/26061.png">Source: <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all">IntoTheBlock</a>
At present, SHIB's price level is hovering around $0.0000078. This means that to reach the $0.000008 price level where a massive amount of SHIB is located, Shiba Inu would need to overcome the substantial trading volume at this point. If it manages to breach this level, it would put a significant portion of SHIB holders in the "In the Money" category, which could potentially lead to increased market positivity and propel the <a href="https://u.today/shiba-inu-shib-burn-rate-hits-1619-increase-price-reaction">price</a> even further.
This significant amount of <a href="https://u.today/shiba-inu-rings-alarm-bells-heres-whats-going-on-behind-scenes-of-shib">SHIB</a> at the $0.000008 level can be seen as a form of "securing" this price level, as these investors may act as a potential barrier against price drops. However, it is important to note that the market is highly volatile and sentiment driven, and these dynamics can change quickly.
Should the price of SHIB rise above this level, it could trigger a surge of positive sentiment among investors, possibly leading to more buy orders and pushing the price even higher. Conversely, if the price struggles to surpass this level due to selling pressure, it could act as a firm resistance level in the short term.

26 Trillion SHIB Are 'Securing' This Price Level

U_Today

2023년 6월 26일에 게재된 다른 기사

Ethereum and Bitcoin Cash See Positive Market Momentum, Indicate Analytics Firm

Caged Beasts Vs. Solana vs. Tron: The Meme Coin Against Giants

Bancor’s Carbon: Revolutionizing On-Chain Trading Strategies

SPOs Notice Big Improvements in ADA Following 8.1.1 Node Release

Polygon: Revolutionizing Scalability In The Crypto World

Pepe (PEPE) Outperforms Shiba Inu (SHIB) and Dogecoin (DOGE) in Trading Volume

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!