One of the most critical zones Shiba Inu has encountered in recent months is currently relevant. Between $0.000014 and $0.000019, the price has essentially aligned itself with a historically dense accumulation zone, which consists of 573 trillion SHIB tokens held by over 174,000 wallets.
This essentially creates a psychological battlefield support cluster and liquidity magnet all at once. SHIB is consolidating beneath the ascending trendline after breaking below it, according to price action. The 50 EMA is serving as a ceiling, and the 100 EMA is close by to provide additional downside pressure. Additionally, the price has not recovered the critical support at $0.000014, which is now acting as resistance, solidifying the short-term bearish bias.
SHIB/USDT Chart by TradingView
The low volume indicates that institutional or retail momentum is lacking at the moment. Furthermore, the RSI has fallen below 50, suggesting that market sentiment is shifting toward neutral-bearish territory. However, we learn more from the on-chain data. Now the enormous 573 trillion SHIB cluster serves as a practical barrier between additional decline and rise.
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These holders who are out of the money may become forced sellers if the price does not return to this range, which would increase the downward pressure. As most wallets are currently holding at a loss, the likelihood of capitulation increases unless there is a significant turnaround. It is now at this level that a new SHIB story begins.
The recovery might happen quickly if it can gain momentum and break back above $0.000014 because of short covering and rekindled hope. But if not, SHIB might be returning to try lower liquidity zones close to $0.000011 or even $0.000009. There will be crucial daily closes in the coming days. At this juncture, SHIB needs to demonstrate its resilience or risk being overshadowed by the inertia of its own baggage.
