- SHIB is trading at $0.000193 after a 3.52% gain but faces major resistance from 162 trillion SHIB held between $0.00002 and $0.000022.
- If buying pressure overcomes selling, analysts expect a breakout; otherwise, SHIB may consolidate or retrace.
- Shiba Inu’s ecosystem has expanded with ShibTorch V2, enhancing its burn strategy as part of a long-term deflationary plan.
At the time of writing, SHIB was up 3.52% in the past 24 hours, trading at $0.000193. This gain followed a broader crypto market rebound after the Federal Reserve’s recent interest rate decision. However, SHIB now faces a critical test as traders monitor a large concentration of holdings that could act as both support and resistance.
According to IntoTheBlock data, 162.23 trillion SHIB tokens are held between the $0.00002 and $0.000022 price range by 144,610 addresses. Historically, levels with large holdings like this have been pivotal—either providing stability or acting as barriers to further price movement. For SHIB to continue its rebound, breaking above this resistance zone is essential.
Support or Sell-Off? The 162 Trillion SHIB Question
Traders are keenly watching how SHIB behaves around this critical range. If the price reaches $0.00002 or higher, some large holders may take profits, increasing selling pressure. However, if buying momentum is strong enough to outweigh selling, SHIB could break through and gain further upside.
On the flip side, failure to break this resistance could lead to further price consolidation or even a pullback. SHIB’s price action within this zone will likely determine its next trend, with traders awaiting either a breakout or rejection in the coming days.
Shiba Inu Ecosystem Expands with New Upgrades
In addition to price action, Shiba Inu’s ecosystem continues to evolve. Recently, the project launched ShibTorch V2, which enhances its token burn process with advanced features. Shiba Inu developer Kaal Dhairya confirmed that one billion SHIB were burned to celebrate this milestone, permanently removing the tokens from circulation.
This burn event is part of Shiba Inu’s deflationary strategy, which aims to reduce supply and improve long-term sustainability. Every transaction on Shibarium—the project’s Layer 2 network—generates fees for a burn contract. When enough BONE (Shibarium’s gas token) accumulates, users can trigger a burn that converts BONE to SHIB and sends it to a dead wallet.
Shiba Inu’s ecosystem upgrades, including ShibTorch V2 and Shib OS, highlight its push toward a more decentralized and self-sustaining platform where every transaction contributes to shaping SHIB’s future.
Market Sentiment: Cautiously Optimistic
SHIB’s near-term outlook depends on whether it can break above the current resistance level. The accumulation of 162 trillion SHIB in the current price range presents both a challenge and an opportunity. A successful breakout could fuel further price gains, while a failure to do so may result in stagnation or temporary declines.
Despite these uncertainties, the project’s ongoing ecosystem developments and deflationary measures are providing support for SHIB’s long-term growth. For now, traders and investors will be watching closely to see which way the market tips.
