dog-related The bulls’ repeated attempts to push SHIB back over $0.00001 caused price activity on Shiba Inu to come to a standstill.
The price of the Shiba Inu is still consolidating below this level and is unable to move over it. The currency has increased in value by 0.46% over the past day to $0.000009. With a $5.3 billion market valuation, the currency is ranked 18th out of all cryptocurrencies.
Bulls consider the next trick in the books, but Shiba Inu has to climb a massive wall that might result in profits of 150% to 200%. For the Shiba Inu price to see a significant upswing and reach $0.000027—roughly 200% higher than its current price of $0.000009024—it would need to break through this sell wall.
Shiba Inu is facing a sell wall at the $0.000009 and $0.000027 levels, where 457,771 addresses purchased 635.38 trillion SHIB at an average price of $0.000015, according to IntoTheBlock’s break-even pricing.
This suggests that in order for Shiba Inu to break even, approximately 457,000 addresses would need to rise to these previously indicated pricing points.
Shiba Inu sees spike in network transaction count
Shiba Inu is witnessing an increase in the number of transactions statistic, which indicates the quantity of transactions for a certain cryptocurrency asset on a given day, according to data from IntoTheBlock.
The volume of transactions in Shiba Inu increased from 3,200 on January 25 to 3,380 on January 26.
The usefulness derived from a crypto asset is partially reflected in the volume of transactions. A divergence between the two signals less speculative and more natural use of the underlying crypto currency, even if both indicators, like daily active addresses, tend to move in lockstep with price.
3.4 trillion SHIB worth of transactions were made on Shiba Inu in a 24-hour period.
