In the recent market activity, Shiba Inu (SHIB) has once again attracted the attention of investors as its price approaches the $0.00001 level. Over the last two weeks, SHIB has increased by a remarkable 10%, from $0.0000088 to $0.0000098. However, this increase shows that the turning point desired by the cryptocurrency community has not yet been fully realized.
What stands in the way of SHIB as it approaches the controversial $0.00001 threshold is a staggering 16.12 trillion Shiba Inu tokens, data from IntoTheBlock reveals. This significant amount represents SHIB volume held in 27,850 wallets, and although they were all purchased at the desired price point, they are now facing losses. As a result, holders of these trillions of tokens are creating a significant sell wall on the market as they wait for an opportunity to dispose of their holdings.
Koinfinans.com As we reported, the challenge for bullish investors aiming to erase a zero in SHIB’s price is finding the purchasing power necessary to absorb this large volume. The impending sell-off by shareholders eager to cut their losses emerges as a critical hurdle to overcome to ensure SHIB reaches the desired milestone.
Despite the optimism surrounding SHIB’s recent earnings, the path to $0.00001 per token remains full of obstacles. As the market prepares for potential selling pressure from long-term holders, the ability of bullish investors to meet this demand will ultimately determine the fate of SHIB’s price trajectory.
As expectations increase, all eyes are on meme coinThe focus is on whether it can overcome this final hurdle and reach the long-awaited milestone of erasing a zero from its price.
