Shiba Inu Price Floor Strengthens With 66.3 Trillion Coins In Key Range

Shiba Inu (SHIB) has recently demonstrated unexpected structural strength, as evidenced by the latest on-chain data. A substantial 66.3 trillion SHIB coins are currently positioned between the $0.000009 and $0.000012 price range. This concentration of SHIB coins acts as a defensive barrier, suggesting that the price is unlikely to fall below this range in the near term.

The data reveals that 43.9 trillion SHIB coins are in the green zone, priced between $0.000009 and $0.000011, while an additional 22.4 trillion SHIB coins are at breakeven, priced between $0.000011 and $0.000012. This substantial accumulation of SHIB coins creates a robust floor, supported by hundreds of thousands of addresses clustered within this tight price range. This concentration not only has psychological significance but also economic implications, as it represents a level where many holders are likely to defend their positions.

In the volatile world of cryptocurrency, zones with high wallet density tend to create resistance, making it difficult for the price to move significantly unless there is a major market shock. Currently, SHIB holders are in a favorable position, with the price more likely to rise than fall, barring any drastic market events. While the majority of SHIB holders are still in the red, with nearly 88% holding coins at a loss, the new concentration at the lower price range is crucial. It sets a limit on how low the price can drop before significant holders start defending their positions.

This on-chain data provides a strong indication of SHIB's potential to maintain its price above the $0.000009 to $0.000012 range. The 66.3 trillion SHIB coins in this range are a testament to the economic strength and resilience of the SHIB community, offering a level of support that is not easily overcome. While this does not guarantee future price movements, it underscores the importance of this price range in the current market dynamics.