Shiba Inu (SHIB) is defending a critical support level at $0.00001188**, sparking a rebound alongside major cryptocurrencies. The protocol has achieved a new milestone, with **over 1.5 million on-chain wallets** now holding SHIB. However, the uptrend may face resistance near **$0.000013, where 22,400 addresses previously purchased 17.52 trillion coins.
Key Takeaways
- SHIB rebounds from $0.00001188 support, gaining 6% in recovery.
- Record-breaking adoption: 1.5M+ wallets now hold SHIB, signaling strong investor confidence.
- Resistance at $0.000013 could challenge further gains due to historical selling pressure.
Crypto Market Recovery Ahead of US-China Trade Talks
The broader cryptocurrency market shows tentative recovery signs as Bitcoin (BTC) climbs above $107,000. Altcoins like Ethereum (ETH) and Solana (SOL) mirror this momentum, with meme coins DOGE and SHIB poised for potential rallies.
👉 Explore crypto market trends
Shiba Inu’s Network Growth Hits All-Time High
Shiba Inu’s ecosystem celebrates a major achievement:
- 1,510,424 on-chain wallets now hold SHIB, reflecting growing adoption.
- Derivatives market activity surges: Open Interest (OI) rises 3.66% to $156.50M, with trading volume up 26%.
This demand could stabilize SHIB’s price and fuel further recovery.
Technical Analysis: SHIB’s Path to $0.000015
- Current price: $0.00001253 (testing resistance at $0.000013).
Key levels:
- Breakout target: $0.00001419 (100-day EMA) and $0.00001557 (200-day EMA).
- Support: $0.00001188 (recent low).
Indicators:
- MACD: Sell signal persists but could reverse.
- RSI: Trending toward 50, indicating strengthening momentum.
IOMAP data highlights 22,400 addresses holding SHIB at $0.000013, potentially creating selling pressure.
Risks and Considerations
- Profit-taking near resistance could trigger pullbacks.
- Macroeconomic shifts may impact SHIB’s trend.
- April low of $0.000011029 remains a critical downside level.
FAQ
Q: What does SHIB’s wallet milestone signify?
A: Over 1.5M wallets holding SHIB reflect increasing adoption and long-term investor confidence.
Q: Can SHIB surpass $0.000013?
A: Yes, but overcoming the 17.52 trillion SHIB supply held at this level is crucial for sustained gains.
Q: How does derivatives activity affect SHIB’s price?
A: Rising OI and volume signal growing demand, often preceding price rallies.
👉 Stay updated on SHIB’s momentum
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Cryptocurrency markets are volatile; conduct independent research before trading.
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