Shiba Inu (SHIB) nears a potential breakout following 75 days of consolidation. At press time, Shiba Inu was trading at $0.00001475. It remains just above the $0.000014416 support area, successfully testing it several times without going below. New insights into price movement and market indicators reveal a positive trend, which may point to a breakout accompanied by considerable price jumps.
Orderbook Liquidity Shows Buy-Side Strength
Since April 25, Shiba Inu’s order book has shown a greater volume of buy orders than it has sell orders. This shows that traders are building their positions in SHIB, even with its unchanging price behavior. SHIB has enjoyed consistent buy side liquidity after its first 15 days of sell side dominance. The increase highlights the trust growing in the prospects of SHIB’s future price changes, supported by technical measures such as the Bollinger Bands and the wave trend momentum oscillator.
As the Bollinger Bands have broadened, they indicate that the consolidation phase is finally ending. If verified by a retest of resistance levels, this might initiate a solid upward movement. In addition, a golden cross in the wave trend momentum oscillator suggests an upswing in buying pressure alongside market momentum.
Liquidation Heatmap Shows Key Price Targets
The liquidation heatmap shows that key price levels have strong short positions. Currently, SHIB is moving toward the $0.0000146 point, at which $3.49 million in SHIB short positions could face liquidation. An uptick in price at this scale might cause extended upward movement, since liquidation zones lie very close by. At the $0.0000147 level, there sits an additional $2.91 million in short positions that are primed for liquidation.
With several liquidation clusters just slightly above SHIB’s current price level, the market could experience increased volatility. If the price breaches through $0.0000146 and $0.0000147 levels, it can go even higher, possibly to $0.000015. There is a liquidation zone at this level with $3.13 million of short positions which could propel SHIB higher.
Shiba Inu Gains Momentum With Shibarium And Game UpdatesWhales and Investors Accumulate SHIB
Whales control 59.97% of the total supply of SHIB, equating to a total of 589.99 trillion tokens at present. The percentage held by investors stands at 26.74, while that of retail traders is 13.29. Over the last 30 days, whale holdings have increased by 0.12%, but large investors’ stakes have increased by 0.46%. Retail traders have slightly lowered their positions by 0.41%.
The growing accumulation by whales and large investors signals strong confidence in SHIB’s future price action. This accumulation supports the expectation of a breakout, especially with rising buy-side liquidity and key technical indicators aligning for a bullish move.
