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Within a crucial support cluster of 470 billion tokens (at the time of writing), Shiba Inu maintains its position and provides a temporary zone of stability. However, unlike leading players like Bitcoin, Ethereum and XRP, its performance is noticeably stagnant. Lack of momentum SHIB current market recovery is being called into question.
While the asset is trading in a tight range around $0.000026, the current SHIB/USDT chart shows a lack of aggressive upward movement. SHIB failed to replicate the dramatic rallies seen in other cryptocurrencies despite attempting a bullish breakout. Strong key support levels were held at $0.000022 and $0.000023, but resistance near $0.000028 still limits the upward movement.
About 62% of SHIB holders make money at the current price, while 37% lose money or break even. This distribution indicates that a significant portion of investors believe that SHIB’s price is trading near breakeven, which could reduce speculative activity.
Over the past 24 hours, there were six trillion SHIB in large transactions, significantly lower than the seven-day peak of nearly 15 trillion. This implies a slowdown in whale activity, which is often a sign of less volatility. The lack of new catalysts and SHIB’s heavy reliance on retailer participation could explain its relative stability.
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SHIB Price action is always influenced by community dynamics, unlike XRP or Bitcoin, whose price movements have been driven by institutional interest or broader narratives.
SHIB’s potential may be limited in the near future due to its inability to capitalize on market sentiment, although the 470 billion support level provides a temporary floor. In the absence of new whale activity or a compelling story, the asset could experience prolonged stagnation or, in the event market conditions turn negative, possibly downward pressure.