In a notable development, Shiba Inu‘s price has reached $0.0000104, breaching a crucial demand zone and shedding a zero in its value. This shift has not only bolstered SHIB’s market standing but has also turned over 22% of SHIB holders into a profitable position. At the current valuation, wallet addresses holding 134.63 trillion SHIB are now in the green.
Recent on-chain metrics for Shiba Inu support the coin’s upward trajectory. Data from Santiment, a crypto intelligence tracker, reveals optimistic indicators for SHIB’s price. Currently, SHIB supply on exchanges stands at 7.84% of the total asset supply, as per Santiment data. This relatively low supply ensures that Shiba Inu is not subjected to intense selling pressure that could drive down its price.
Shiba Inu’s current price places it within a critical demand zone, where 89,360 wallet addresses have accumulated 134.63 trillion SHIB tokens. The prospect of SHIB surpassing the $0.000011 resistance level opens the path for further gains, potentially reaching $0.000014, according to insights from the Global In/Out of the Money chart.
Renowned crypto analyst @Mangyek0 predicts a bullish outlook for Shiba Inu’s price, emphasizing its recent rally in comparison to other meme coins in the crypto ecosystem. As of the latest update, Shiba Inu has yielded nearly 2% in daily gains and almost 6% in weekly gains for holders.
Shiba Inu’s recent price surge, shedding a zero and entering a crucial demand zone, presents an optimistic outlook. On-chain metrics support the positive momentum, and analysts foresee the potential for further gains if SHIB can surpass key resistance levels. As the market dynamics continue to evolve, Shiba Inu remains a coin of interest for investors.
Shiba Inu made a groundbreaking move by announcing its partnership with seasoned domain company D3 Global to apply for its top-level domain (TLD). This marks Shiba Inu as the first Web3 protocol to obtain its own TLD, which is similar to domain names such as .com and .net. It is an essential step in establishing a unique digital identity across both Web2 and Web3 platforms.
D3 Global, led by industry veterans Fred Hsu and Shayan Rostam, has introduced .shib name tokens. This collaboration aims to enhance user access to Web3 benefits such as improved security, privacy, and interoperability. Fred Hsu, CEO of D3 Global, highlighted the immense potential of this digital identity in unlocking new opportunities.
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