- Shiba Inu’s price surge aims to overcome resistance barriers and achieve new highs.
- SHIB boasts significant growth this year, erasing one zero and establishing $0.00001 as strong support.
- SHIB’s bullish momentum is fueled by internal factors like the burn campaign.
Shiba Inu (SHIB) has showcased remarkable resilience, maintaining a positive trajectory after surpassing the $0.00003 mark. Recent data indicates a promising outlook for SHIB as it aims to surpass previous highs.
There are currently 1.1 million Shiba Inu addresses in profit. Analysis reveals that key resistance levels lie ahead, with 18,360 addresses breaking even at prices between $0.000035 and $0.000037. Notably, a significant resistance zone ranging from $0.000057 to $0.000131 is observed, with 84,120 addresses holding 29.72 trillion SHIB.
Despite these hurdles, SHIB has demonstrated bullish momentum in recent weeks, reaching a 52-week high of $0.00004534. Year-to-date growth stands impressively at 238.94%, marking a significant milestone as SHIB consolidates its support above $0.00001.
Several catalysts are fueling SHIB’s growth trajectory. The ongoing Shiba Inu burn campaign is effectively reducing circulating supply, aligning with increasing demand within the meme coin community. Additionally, SHIB is capitalizing on the broader excitement surrounding the digital currency, fueled in part by the emergence of Bitcoin spot Exchange Traded Fund (ETF) products.
Looking ahead, SHIB sets its sights on ambitious price targets. Short-term aspirations aim for $0.00005, while long-term goals stretch to $0.00007. With a favorable supply-demand balance and a supportive ecosystem, Shiba Inu remains poised for further advancement in the crypto market.
