- Over 141,000 addresses holding 537 trillion SHIB are underwater at current prices.
- SHIB trades above the 50-day EMA and reclaims $0.000013, signaling bullish momentum.
- Failure to break resistance may push SHIB back to the $0.0000125–$0.0000130 support zone.
Shiba Inu (SHIB) has reached a major milestone in its price movement, as recent market momentum pushes the popular meme token toward a critical resistance level that could determine its short-term fate. Following a 4% increase, SHIB is currently trading at approximately $0.0000140 and is moving closer to a formidable barrier that has historically prevented further upside.
On-chain data from IntoTheBlock reveals a dense resistance zone between $0.000014 and $0.000017. This is where over 141,000 addresses currently hold more than 537 trillion SHIB tokens. This massive concentration is one of the largest clusters of out-of-the-money holders. These are investors who purchased SHIB at a higher price and currently wait for a return on investment.
If Shiba Inu is unable to overcome this obstacle, selling pressure will rise as underwater holders take the opportunity to close out their positions at smaller losses. Despite this obstacle, SHIB technical analysis shows encouraging indications of gathering momentum. The token has just crossed the 50-day Exponential Moving Average (EMA) and the psychologically important $0.000013 level, which had been working as resistance.
Source: TradingView
Also in favor of the bullish argument is the consistent rise in trading volume, which indicates that the current trend is not speculative-driven but reflects genuine buying interest. The Relative Strength Index (RSI) is currently at 66, which is near the overbought zone of 70 and indicates a bullish trend.
But if it cannot break the $0.000014 resistance level, the token will fall back to the support level of $0.0000125 to $0.0000130. This is an area that has repeatedly served as a critical point between buyers and sellers in recent months.
Related: Shiba Inu (SHIB) Eyes $0.0001: Key Factors Fueling Bullish Forecast
While Shiba Inu’s market structure has been improving, the 537 trillion SHIB barrier is a substantial obstacle that cannot be easily overcome. Bulls will need major momentum to break through this resistance. This likely requires support from overall market strength or positive developments specific to the Shiba Inu ecosystem.
Market participants should closely monitor trading volumes and whale activity as SHIB approaches this critical level. Increased institutional interest or large whale accumulation could provide the necessary momentum to overcome the resistance.
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