Onchain Data Shows Levels Shiba Inu Must Breach Before It Can Reclaim $0.000035

Shiba Inu is attempting to recover lost ground, but faces significant resistance before it can reach $0.000035. The cryptocurrency saw an initial rally, outperforming Bitcoin, but then stalled. On-chain data indicates multiple 'supply clusters' or price ranges where many investors previously bought SHIB, and are therefore likely to sell when the price returns to those levels. The first major hurdle is between $0.000013 and $0.000014, followed by a larger cluster between $0.000014 and $0.000019. Overcoming these, further resistance exists between $0.000019 and $0.000024, then between $0.000024 and $0.000029, and finally between $0.000029 and $0.000035. The last time SHIB traded at $0.000035 was in March 2024.