Shiba Inu (SHIB) Poised for Bullish Moves. Here’s What’s Happening

Shiba Inu has bounced back alongside the broader crypto market, recovering from the sharp downturn earlier this week caused by widespread macroeconomic uncertainty. The popular meme coin surged midweek, climbing from a low of $0.00001029 to a high of $0.00001214 on Wednesday. Although Thursday saw a slight pullback, SHIB resumed its upward trend on Friday, reaching an intraday peak of $0.00001238 early Saturday. Following the recent wave of volatility that shaved off significant value across the crypto market, sentiment is cautiously optimistic. Traders are now eyeing a broader recovery, and Shiba Inu could be one of the beneficiaries if momentum continues building. A push toward the $0.00002 level is now on the table. However, the journey to that target won’t be without resistance. On-chain metrics suggest SHIB faces two major price clusters that could either stall or support its climb, depending on how bulls respond in the coming sessions. What Needs to Happen for SHIB to Hit $0.00002 Insights from blockchain analytics platform IntoTheBlock reveal that Shiba Inu’s path upward could be influenced by two key resistance zones where massive volumes of the token are being held. The first hurdle lies between the $0.000013 and $0.000014 range. Here, about 28.41 trillion SHIBs are currently held by more than 38,000 wallets. This area will likely act as an initial test of strength for SHIB bulls. If buying pressure overcomes potential profit-taking from holders in this zone, the token could continue its advance. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 A more significant challenge awaits in the range between $0.000015 and $0.000019. This cluster contains a staggering 548.5 trillion SHIB spread across 169,100 wallets. As a heavily concentrated area of past buying activity, it represents a formidable resistance barrier. Breaking through this zone would be a strong indicator of market confidence and could pave the way for SHIB to approach — or even surpass — the $0.00002 threshold . Market Sentiment Remains Key Whether SHIB can capitalize on its current rebound and clear these critical supply walls will depend largely on broader market conditions. If the overall crypto market regains bullish momentum in the days ahead, the outlook for Shiba Inu becomes increasingly favorable. Should favorable conditions align — including investor confidence, increased trading volume, and broader crypto strength — SHIB could find itself on a legitimate trajectory toward reclaiming higher price levels. For now, all eyes are on the next few moves, which may determine whether Shiba Inu is poised for another major breakout. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Shiba Inu (SHIB) Poised for Bullish Moves. Here’s What’s Happening appeared first on Times Tabloid .

Source: TimesTabloid