Ali Martinez, market analyst Shiba Inu He underlined this situation in his latest report on In a post on X, Ali shared data from market intelligence source IntoTheBlock. In this context, he detailed the resistance and support levels that SHIB may face depending on its accumulation trends.
to Ali according to, SHIB has skyrocketed by 55% in the last three months. Data obtained from the graphs confirmed this statement. Notably, SHIB dropped as low as $0.0000661 on October 19. However, at the time of Ali’s announcement, the asset rose by 55.8% to $0.0001030.
Although SHIB has fallen below the $0.00001 threshold since the report, the asset’s decline was mainly triggered by the ongoing market-wide collapse. Despite the crash, SHIB remained safely above the $0.000009 support level.
Next Key Shiba Inu Resistance
However, amidst this tough support, Ali pointed out an area of stiff resistance that the Shiba Inu could face if it continues its uptrend. Citing IntoTheBlock data, the analyst identified a supply wall in the $0.000016 price zone. The data confirms that 89,330 addresses purchased 422.8 trillion SHIB at this price level.
As a result of the large buying intensity at this level, a solid sell wall has formed. Especially, meme coinIf ‘s continues its uptrend and moves towards this price level, investors or traders who purchased the asset at this price may begin to sell their assets as their investments reach their profitable or break-even point.
This selling intensity could pose a threat to Shiba Inu’s uptrend as selling pressure increases on the digital asset. As a result, SHIB is likely to face tremendous resistance at the price level. It is possible that this will cause a roadblock in the uptrend.
Having fallen below $0.00001 at the time of reporting, Shiba Inu has new resistance levels to overcome before reaching the $0.000016 roadblock. The first resistance is Fib. In line with $0.00001007. 0.618. After clearing this, SHIB will face resistance levels at $0.00001077 and $0.00001168.
Meanwhile, in the short term, the Shiba Inu needs to defend the $0.000009 support to maintain its momentum for the next market resurgence. Currently trading at $0.00000970, SHIB’s next support is at $0.00000957. Breaking this point would bring support to $0.00000907, which serves as the last defense above $0.000009.