538.04 Trillion Shiba Inu Cluster Holding Back SHIB Upsurge: What’s Next

A key resistance cluster holds significant selling pressure for Shiba Inu, challenging its near-term bullish momentum.

Notably, Shiba Inu (SHIB) recorded an 18% price increase between April 18 and April 25, climbing from $0.0000118 to a high of $0.0000139. This upward movement appeared alongside rising trading volumes, reflecting a short-term bullish sentiment across the broader crypto market.

However, data from IntoTheBlock highlights that this rally now faces a crucial resistance zone and weakening on-chain fundamentals, putting SHIB’s near-term direction in question.

Shiba Inu Resistance Cluster

During the week, Shiba Inu charted a pattern of higher highs and higher lows. This classic bullish formation signaled growing upward momentum. Yet, despite this technical strength, a major hurdle now looms between $0.000014 and $0.000019.

Within this range, approximately 538.04 trillion SHIB are held across 145,600 wallet addresses, according to IntoTheBlock. These tokens were acquired above current prices, making them potential sources of selling pressure.

At the present value of $0.000014, only 15.03% of SHIB holders are in profit, controlling 148.05 trillion SHIB, valued near $2.07 billion. Meanwhile, a further 2.27% of holders are positioned at break-even levels.

In contrast, 82.70% of addresses remain at a loss, collectively holding 814.57 trillion SHIB, which equals $11.39 billion in unrealized losses. As the price nears the area where these addresses bought SHIB, many of these holders may sell to recoup losses, which could stall further gains.

It is worth mentioning that IntoTheBlock’s analysis often accounts for tokens no longer in circulation. Specifically, the circulating supply of SHIB is around 589 trillion tokens.

Shiba Inu Active Addresses by Profitability

On-Chain Activity Lags Behind

Despite SHIB’s upward price movement, supporting on-chain activity has failed to keep pace. IntoTheBlock’s 7-day address metrics show softening engagement. Active addresses dropped by 17.88%, suggesting declining user participation in transactions.

New addresses rose marginally by 0.99%, pointing to limited new interest from retail participants.

Shiba Inu Daily Active Addresses

Ownership trends further reflect this waning momentum. Long-term holders, those holding SHIB for over one year, rose moderately by 1.98% during the same week. Further, cruisers holding SHIB between one and twelve months declined by 3.85%, while short-term holders under one month dropped significantly by 12.67%.

This pattern suggests shifting from speculative activity to moderate, longer-term holding, limiting the rapid trading volume typically required to push past resistance zones.

Shiba Inu Addresses by Time Held

Long-Term Growth Potential

As Shiba Inu faces strong resistance, projections from crypto industry analysts suggest long-term optimism. A panel of 26 experts polled by Finder forecast SHIB could reach $0.0001971 by the end of 2030.

Separately, analysts at Changelly expect the token to hit a similar target of $0.000199 by May 2031. These estimates point toward substantial upside over several years, though current resistance levels remain critical to near-term price action.