39.7 Trillion SHIB: Can the Bulls Wake Up From Their Nap?

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Ah, the ever-dramatic Shiba Inu (SHIB), the cryptocurrency equivalent of that dog meme everyone can’t stop reposting. Well, the price is now stuck in a key range, and let’s be real – if the bulls don’t wake up soon, we might all be staring at the abyss. 🐶📉

After a slight tumble, Shiba Inu is dancing around the $0.000012 and $0.000013 mark, where a jaw-dropping 39.71 trillion tokens used to be, according to our oh-so-reliable on-chain data. No biggie, right? 🙄

As of this second, SHIB has managed to squeeze out a 0.24% gain over the last 24 hours, bringing it to $0.00001293 after an embarrassing dip earlier in the week. Fun fact: it was on a four-day winning streak until June 3, when it got knocked down from a high of $0.00001345. Keep it up, SHIB. You’ve got this. 🏃‍♂️💨

On the macroeconomic front, things are looking… meh. The latest jobless claims were higher than anticipated (not that anyone’s really shocked anymore). The Labor Department reported that there were 247,000 first-time claims for jobless benefits last week. In other words, the Dow Jones guessed wrong. Yet again. 🙄🤷‍♀️

39.71 Trillion SHIB: Can the Bulls Save Us From the Abyss?

According to IntoTheBlock data, those 39.71 trillion SHIB tokens are held in the $0.000012 to $0.000013 range by 66,750 addresses. Yeah, you read that right: 66,750. Talk about a party. 🥳

With the market in its usual panic-induced frenzy, it’s time for the bulls to step up – but not just any bulls. They need to bring their A-game. We’re talking volume, conviction, and maybe even a little bit of drama. Bears, on the other hand, are like that annoying ex that just won’t quit – they might try to smash through the $0.000012 support level and take advantage of all the weak hands out there. Yikes. 🙄🐻

If the selling spree continues, the next line of defense is expected to be at $0.00001, where 64.76 trillion SHIB are chilling with 278,360 addresses. But hey, no pressure, right? 🤷‍♂️

On the upside (yes, there is one), there’s not much resistance until the price hits $0.000013 to $0.000014. At that point, 1.94 trillion SHIB tokens are being guarded by 5,280 addresses. It’s not a fortress, but it’s something. 🙃

The next few sessions could determine whether SHIB manages to find some bullish momentum or if it’s a one-way ticket to the downside. Grab your popcorn. 🍿

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2025-06-05 17:49