$SHIB currently battling massive 24 trillion resistance, but breakthrough still possible
Shiba Inu is currently trading at a price level where a remarkable 24 trillionwere previously acquired. This scenario could induce a spike in selling pressure as these holders may aim to offload their holdings in anticipation of a potential price decline. The analysis of this resistance is derived from IntoTheBlock's Global In/Out of the Money indicator.This tool identifies the average cost at which tokens were bought and contrasts it with the current price.
However, despite this potential selling pressure, it is essential to examine Shiba Inu from a technical chart perspective. The meme coin is currently grappling with a local trendline resistance level at $0.00000775. After several attempts to break past this threshold, the asset has been knocked back, indicating a reversal.
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