Shiba Inu (SHIB) has been enjoying the ride of the crypto market’s recent rebound. However, as SHIB tries to push higher, a critical level is emerging on the charts that could either fuel its next surge or halt it in its tracks.

On-chain data paints a picture of a significant hurdle ahead. Around the current price level, a massive 38 trillion SHIB tokens are sitting, creating a potential resistance zone as SHIB aims to reach $0.000013. For SHIB to truly take off, buyers, often called bulls, will need to push past this supply barrier.

Right now, SHIB is hovering around $0.00001216, having gained 1.12% in the last 24 hours. All eyes are now on the $0.000013 mark as the next level to conquer. However, breaking through that ceiling might not be an easy feat.

Data from IntoTheBlock sheds light on this resistance. It shows that a substantial chunk of SHIB tokens were bought around the $0.000013 price. Digging deeper, data indicates that between $0.000012 and $0.000013, a whopping 67,020 addresses are holding onto 38.17 trillion SHIB tokens, purchased at a maximum price of $0.00013 per token.

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These holders, who bought in around $0.000013, might be tempted to sell to break even or grab some profit. This creates potential selling pressure as the price approaches their entry point. Think of this large number of tokens as a ceiling; as SHIB tries to rise, these sell orders can overpower buying interest and stall the upward momentum. For SHIB to continue climbing, buyers – the bulls – need to absorb all that selling pressure at and above this level.

Shiba Inu Charts Show the Upside Hurdle

Shiba Inu has recently caught a bit of a bullish wind, riding on the coattails of the wider crypto market’s rebound. Coming off a dip on Thursday, SHIB showed resilience, bouncing from a low of $0.00001167 up to $0.00001247 on Friday.

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This upward move is attempting to hold onto its gains into early Saturday trading. Looking ahead, the immediate challenge is the daily SMA 50, currently sitting at $0.00001257. This key technical level has been a ceiling for Shiba Inu’s price since December 2024, and previous bullish efforts to overcome it in late March were pushed back.

Keep an eye out in the coming days to see if SHIB can decisively break through this SMA 50 barrier. A clear move above this could open the door for SHIB to retake the $0.000013 level.

Should SHIB succeed, it will then need to contend with another layer of resistance between $0.000013 and $0.000014, where 19 trillion SHIB tokens are held by 37,040 addresses. Looking further up, a truly massive wall of supply awaits between $0.000014 and $0.000019, where a staggering 545 trillion SHIB are held by 161,660 addresses.