Shiba Inu (SHIB) has rebounded more than 11% this week, reviving its price trajectory and sparking speculation as to whether it could reach the crucial $0.000021 level in the coming days. Currently trading at around $0.00001936 and with a market cap exceeding $11.4 billion, the altcoin’s recent upward momentum has captured the attention of the cryptocurrency community.
After rebounding from the $0.00001760 support level, the token passed the resistance point, reinforcing strong buyer interest. Moreover, chart indicators show a possible breakout scenario as SHIB challenges immediate resistance near $0.000021.
As the 50-day and 200-day moving averages converge, speculation is increasing about a “golden cross,” a historically bullish signal that could push the cryptocurrency higher. If the current bullish trend continues, will SHIB token reach the projected $0.000021 target or will it face resistance and consolidate towards current levels?
SHIB holders show a diamond hand as the price approaches key resistance levels.
In addition to SHIB’s recent momentum, data on the holding times of traded coins offer a promising outlook. According to IntoTheBlock statistics, the average holding time for SHIB token holders has increased by more than 176.39% in the past week alone and by more than 428.30% over the past month.
This surge in holding periods suggests growing confidence among SHIB holders in line with continued buying pressure and recent price gains. The 90-day holding change shows a +1 year increase, indicating that many in the SHIB community are shifting to a more long-term investment approach.
These indicators of increased holding times combined with SHIB’s price action suggest a “diamond hand” mentality is developing within the community, which could support the cryptocurrency to break the important $0.000021 mark. Adding to this optimism, 55.28% of SHIB addresses are at “current price” and holding tokens at a profitable level compared to the current price of approximately $0.00001936.
This suggests a strong base of financially motivated holders to ensure the meme coin continues its upward trajectory. Additionally, only 2.63% of addresses are considered “cash,” giving most SHIB holders a vested right to additional profits. The current price range places 64.41% of addresses within the profitable zone, highlighting a substantial support base as the cryptocurrency approaches $0.000021 resistance.
SHIB Price Prediction: Can the $0.000021 Target Be Reached?
Due to the current positive sentiment and solid support around the 0.786 Fibonacci retracement level of $0.000018676, the token is likely to break above the $0.000021 resistance by the end of next week. A successful crossing of this critical area could see Mimcoin targeting the next hurdle near $0.000021676, which coincides with the 100% Fibonacci level, which is likely to pave the way for further upside in the near term.
On the other hand, if the SHIB cryptocurrency fails to maintain its position above the $0.000018676 support, it may experience a retest of lower levels before making another attempt to reach $0.000021. This scenario could intensify selling pressure leading to a pullback to $0.000016615 near the 0.618 Fibonacci level where further support could be found.
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