Shiba Inu at Risk? 91 Trillion SHIB Suddenly Important as Market Drops

Key Points

1. Shiba Inu is testing support in the $0.000008-$0.000013 range, where 91.61 trillion SHIB tokens are held by approximately 302,740 addresses.

2. The $0.000008-$0.000013 range is a crucial support zone that could set the tone for SHIB's performance in the coming weeks.

3. SHIB fell 5.28% to $0.00001272 in the last 24 hours, testing the 50-day Simple Moving Average (SMA) at $0.00001265, a key level for traders.

4. If the 50-day SMA holds as support, it could provide a foundation for a rebound; failure to hold may lead to a retest of lower support levels around $0.00001.