The cost of Shiba Inus is approaching a significant turning point. A resistance level of 305 trillion is being indicated by the Global In/Out of the Money indicator, which measures the average cost of tokens for each address having a balance. According to the most recent statistics, the SHIB price is now fluctuating around $0.00000762.
A useful trading tool is the global in/out of the money indicator. By comparing the current price to the average cost of tokens owned, it determines if an address is “In the Money” or “Out of the Money.” If the price is higher than the average cost, the location is “In the Money,” and vice versa.
Let’s now discuss the proverbial “elephant in the room”—possible selling pressure. Shiba Inu’s price might experience an increase in selling pressure if it above the $0.000008 threshold. Why? a lot of addresses would fluctuate between “Out of the Money” and “In the Money,” enticing holders to take advantage of their profits.
The 305 trillion resistance level becomes relevant in this situation. It serves as a psychological barrier and a demarcation of the bounds that may either propel SHIB to new heights or cause it to fall. For the token, breaking through this obstacle would be like breaking through a glass ceiling and granting access to new land.
But let’s not overlook the situation of the market right now. Trading volume is more like a whisper than a roar, liquidity is as rare as hen’s teeth, and volatility is high. The struggle to overcome resistance is made more difficult by this low-activity atmosphere. The general revival of the cryptocurrency market must be a feasible possibility for the meme token.
