Shiba Inu Faces Key 518.2 Trillion SHIB Barrier Amid Consolidation and Potential Breakout

Key Points

1. A supply wall of 518.2 trillion SHIB tokens, held by over 166,000 addresses between $0.000014 and $0.000019, poses a critical resistance level for SHIB's price.

2. SHIB is currently trading around $0.00001324, consolidating below this resistance, with potential upward movement requiring significant buying pressure.

3. A robust support zone exists between $0.000008 and $0.000013, where approximately 108.16 trillion SHIB tokens were previously acquired.

4. Breaking above the 518.2 trillion SHIB supply wall could push the price toward $0.000014 to $0.000019, while failure may lead to increased volatility and a retracement to lower support levels.

5. Investors are advised to monitor broader market conditions and on-chain data to assess SHIB's next price movement.