- Shiba Inu (SHIB) is on the verge of a significant price breakthrough, with a 110 trillion SHIB threshold potentially doubling its value.
- Over 327,000 addresses would require SHIB to increase to $0.00005 to break even, according to IntoTheBlock’s breakeven price indicator.
- A successful breach above this threshold could erase a zero from the SHIB price and propel it to new all-time highs.
Shiba Inu (SHIB) is poised for a potential price surge, with a 110 trillion SHIB threshold holding the key. A successful breach could double the value of SHIB and set new all-time highs.
Shiba Inu’s Potential Price Breakthrough
According to IntoTheBlock’s breakeven price indicator, 110.27 trillion SHIB were purchased by 327,200 Shiba Inu addresses between the range of $0.000026 and $0.000051 at an average price of $0.000034. This is close to the current price range for Shiba Inu, implying that over 327,000 addresses would need SHIB to increase to $0.00005 to break even.
The Significance of the 110 Trillion SHIB Threshold
The 110 trillion SHIB tokens present a formidable barrier, but they also hold the key to a potential surge in value. From Shiba Inu’s current prices, a jump to $0.00005 represents a 100% increase in SHIB value. What makes this threshold even more significant is that a successful breach above it holds the potential to erase a zero from the SHIB price. Next to the 110 trillion SHIB threshold is a range where 37.13 trillion SHIB were bought by 126,520 addresses above the $0.000051 price point. A successful takeover of this level could erase a zero from SHIB’s price and propel it to new all-time highs.
The Bull Flag Pattern and Shiba Inu’s Bullish Outlook
The emergence of a bull flag pattern on the Shiba Inu daily chart also adds to the bullish outlook regarding its price. At the week’s start, crypto analyst Ali highlighted that Shiba Inu appears to be forming a bull flag on its daily chart that might trigger a bullish breakout and send the SHIB price to $0.000072323. At the time of writing, SHIB was up 7.75% in the last 24 hours to $0.000025, mirroring the rally in dog coins.
Conclusion
Shiba Inu has been steadily rising in the last four days; technically, the price meets a short-term resistance at the daily MA 50 of $0.0000263. A successful break above here may be required for SHIB to exit its present trading range and generate impetus for a new bullish rise. The potential price breakthrough and the bullish outlook suggest that SHIB could be on the brink of significant gains, offering an exciting opportunity for investors and traders alike.
