Shiba Inu price recovers to 0.00003 US dollars, attracting 69% of holders to stay in the green zone

The price of Shiba Inu has recovered to $0.00003, helping most SHIB holders return to a green state. This is significant considering it could push Shiba Inu towards a price increase. Most SHIB holders have profited as the Shiba Inu price recovers IntoTheBlock data shows that most SHIB holders are profitable as Shiba Inu price recovers to $0.00003. 69% of these SHIB holders are currently profitable, while 24% are at breakeven and 6% are in profit. This could be a bullish signal for Shiba Inu price, as holders are less likely to sell when they are in profit. #Write2Win # This can reduce selling pressure on SHIB and maintain the price recovery momentum of Shiba Inu. The meme coin has recovered to $0.00003. The 'In the Money' index shows the next important resistance level that Shiba Inu needs to overcome is $0.000033. 130,620 wallet addresses have bought around 15.06 trillion SHIB tokens at this level. However, the data on the chain still paints a pessimistic picture for Shiba Inu, which is certainly worrisome. IntoTheBlock's data shows that the 'Concentration' metric is in the red, indicating that SHIB whales are currently pessimistic about this meme coin and are choosing not to accumulate more money. This major trading index is also currently declining as Shiba Inu whales are choosing not to accumulate more money. The growth of the net also paints a bearish picture for the price of Shiba Inu, as there are currently very few new addresses buying this meme coin. The burning rate of Shiba Inu is also unstable, continuing to show prospects for price reduction for Shiba Inu. Shibburn's data shows that the burning rate has decreased by more than 79% in the past 24 hours, with three million dong burned in this period. From a technical analysis perspective Cryptocurrency analyst Javon Marks has provided a bullish outlook for Shiba Inu from a technical analysis perspective. In a post on X, he claimed that Shiba Inu has recently confirmed another bullish price pattern, which could lead to its continued upward trend. The analyst further stated that another significant price increase could be on the horizon for SHIB, with the meme coin potentially rising to 0.00081 dollars or even higher.

This cryptocurrency analyst also mentioned that with this target of $0.000081, the price of Shiba Inu could witness a 180% increase and this price increase may have already occurred. The price increase to $0.000081 could pave the way for Shiba Inu to surpass its current all-time high (ATH) of $0.000088. At the time of writing, Shiba Inu is trading at around 0.000029 dollars, up over 8% in the past 24 hours, according to data from CoinMarketCap DYOR! Write&Earn $SHIB {spot}(SHIBUSDT)