- Shiba Inu encounters a hurdle with 47 trillion tokens concentrated at $0.00001, jeopardizing market stability.
- With $3.27 trillion SHIB tokens concentrated at $0.000009, crucial support is provided.
- Shiba Inu emerges as the top-traded coin on WazirX, securing the second most traded token position in India after Bitcoin.
Shiba Inu (SHIB) is on the precipice of a significant milestone, revealing a critical challenge in its journey to surpass the elusive $0.00001 mark.
The obstacle lies in the concentration of a substantial 47 trillion SHIB tokens at this specific price level, posing a potential threat to the market and causing losses for its 28,930 holders. Overcoming this hurdle is essential for Shiba Inu’s further ascent.
However, amidst this challenge, there is a beacon of stability for the Shiba Inu community. A staggering $3.27 trillion SHIB tokens have found stability around the $0.000009 price point, spread across 5,640 addresses.
This concentration not only showcases a critical support level but also presents an opportunity for sustained growth if strategic moves are executed successfully. The successful execution of this plan not only holds the key to Shiba Inu’s immediate milestone but also has the potential to pave the way for sustained growth, injecting renewed optimism into the SHIB market.
Meanwhile, in a notable development, Shiba Inu has emerged as the most traded coin on WazirX, India’s leading cryptocurrency exchange. This achievement solidifies SHIB’s position as the second most traded token of the year, closely trailing Bitcoin. WazirX, with over 15 million users and more than 1.3 million monthly visits, has become a hub for cryptocurrency enthusiasts in the region. The year-end report underscores the exchange’s exponential growth, having welcomed approximately 600,000 new users last year.
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