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“12.61 Trillion Reasons for Shiba Inu (SHIB) Price Not to Add Zero”
In a shocking revelation, recent data from IntoTheBlock has revealed that an astonishing 12.61 trillion SHIB tokens are locked in over 56,000 wallets. This staggering number is having a profound impact on the market’s sentiment, effectively capping the price at around $0.000012.
As per the data provided by IntoTheBlock, nearly 90% of addresses are currently in the red, indicating a significant shift in investor psychology. Meanwhile, this particular group of wallets remains neutral, neither cutting losses nor chasing exits. As long as these massive reserves hold, it is highly unlikely that SHIB’s price will plummet into the five-zero territory.
Interestingly enough, we’ve witnessed a similar pattern unfold during March and April, where the price repeatedly bounced off the same range ($0.000011 to $0.000012). It seems that this phenomenon has become a recurring theme for SHIB holders. The stakes have changed now, as the token’s momentum drifts back into this zone with weaker conviction and lower volume.
If we analyze this data more closely, it becomes clear that even a slow bleed could send the token into a lower decimal bracket, potentially reshaping sentiment and resetting psychological anchors. However, until then, 12.61 trillion SHIB tokens are the sole barrier preventing a massive drop in price.
In conclusion, these extraordinary numbers have set up an unpredictable market situation. While some may speculate on the potential for SHIB’s price to plummet, it appears more likely that this enormous reserve of locked-in coins will preserve the current range and prevent the token from reaching five-zero territory.
Source: u.today
