Shiba Inu(SHIB) Ready to Reach 100%: 110 Trillion Tokens Hold the Key to Financial Freedom
Shiba Inu (SHIB) is currently on the verge of a potential price surge that could potentially double its value and set new all-time highs. This is due to the 110 trillion SHIB threshold, which holds the key to a successful breakthrough.
Significance of the 110 Trillion SHIB Threshold
The significance of the 110 trillion SHIB tokens is that it represents a formidable barrier that, if breached successfully, holds the potential to erase a zero from the SHIB price and propel it to new all-time highs.
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Shiba Inu’s Potential Price Breakthrough
According to IntoTheBlock’s breakeven price indicator, 327,200 Shiba Inu addresses purchased 110.27 trillion SHIB between the range of $0.000026 and $0.000051 at an average price of $0.000034. This implies that over 327,000 addresses would need SHIB to increase to $0.00005 to break even.
The Bull Flag Pattern and Shiba Inu’s Bullish Outlook
Additionally, the emergence of a bull flag pattern on the Shiba Inu daily chart adds to the bullish outlook regarding its price. Crypto analyst Ali highlighted that Shiba Inu appears to be forming a bull flag on its daily chart that might trigger a bullish breakout and send the SHIB price to $0.000072323. At the time of writing, SHIB was up 7.75% in the last 24 hours to $0.000025, mirroring the rally in dog coins.
However, the SHIB price meets a short-term resistance at the daily MA 50 of $0.0000263, and a successful break above here may be required for SHIB to exit its present trading range and generate impetus for a new bullish rise.
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Conclusion
In conclusion, the potential price breakthrough and the bullish outlook suggest that SHIB could be on the brink of significant gains, offering an exciting opportunity for investors and traders alike.
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Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.
