- Over 200 trillion SHIB tokens, worth $3.09 billion, are now profitable, raising the chances of short-term selling pressure.
- SHIB’s recent drop below the 200 EMA signals faltering bullish momentum after a brief breakout above $0.000015.
- The $0.00001450 pivot level and $0.00001360 support are now crucial for preventing a deeper price correction.
Shiba Inu briefly surpassed the $0.000015 mark in recent trading sessions, marking a strong breakout above a major resistance level. However, the surge proved short-lived as the price faced rejection and slipped below this key threshold. It was an excellent rebound after a significant overtaking of the 200-day Exponential Moving Average (EMA), which can be regarded as a bullish reversal indicator.
The recent on-chain data suggests that the current total supply of SHIB tokens amounts to more than 200 trillion tokens, with the current profits of nearly 3.09 billion US dollars. This makes up 20.78% of the entire supply in circulation. The number reflects a great inverse change in a long run of accretion and losses accumulation. This has indicated that most investors might be thinking of leaving the market to make profits in the case that the price weakness persists.
Important Technical Levels of Shaping Short-Term Trend
The 200 EMA has become the locus in the short-run trend of SHIB. Upon crossing above the indicator, the price broke immediately and back down below it, and it appeared that in the process, bullish momentum would be lost. The level of 0.00001450 is playing a very important role now. The continued fall below this region would be an invitation to lower levels, and the next support area could be seen around the zone of $0.00001360.
Source: TradingView
Although a portion of holders are now profitable, nearly 75 percent of the supply, or about two trillion SHIB tokens, remains out of the money. These underwater holders are likely to wait for higher prices before exiting. However, if selling increases near current levels, it may slow further gains and limit upward momentum unless trading volumes significantly expand.
The Psychological Barrier Has Been Present at $0.000015
The psychological barrier has begun to occur in the range 0.000015-0.000016. They may increase the activity in this zone in an attempt by sellers to gain profits. Until buying interest improves in a significant way, bursting through this area may not be something easy to do. Whales can also cause resistance, and this might make their long-term gains difficult without a rising demand.
A powerful rebound to a price of 0.00001360 and a recovery of prices above the 200-established moving average would be required to restore constructive momentum. As long as this does not happen, the SHIB price will be open to profit-taking, and market participants will monitor its capacity to stay above short-term support.
