Dog-themed cryptocurrency Shiba Inu (SHIB) is at a critical juncture, facing massive resistance at a key price range, which could determine its next major move.
According to IntoTheBlock data, a massive 533.08 trillion SHIB is held by 133,340 addresses in the range of $0.000015 and $0.00019 at an average price of $0.000017.
At the time of writing, SHIB was up 2.20% in the last 24 hours to $0.00001437, having achieved a high of $0.00001525 in the early Saturday trading session. If today concludes in green, Shiba Inu will mark the third consecutive day of gains since April 23.
After a steady recovery since the April 9 lows of $0.00001029, Shiba Inu gained further momentum to surpass the daily SMA 50 at $0.00001257, which had capped its price since December 2024.
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The rebound has pushed SHIB higher and is now confronting a gigantic 533 trillion SHIB barrier on its path. Given the enormous concentration of SHIB at this range, it might act as resistance for the SHIB price, as holders might seek to break even or sell once it is reached.
However, if bulls manage to overpower the selling pressure and breach the 533 trillion SHIB range convincingly, Shiba Inu could target higher resistance levels and continue its upward momentum. In this scenario, Shiba Inu would target the range of $0.000019 and $0.000024, where 178.69 trillion SHIB were bought by 140,930 addresses at an average price of $0.000022. On the other hand, Shiba Inu’s immediate support lies at $0.000011, the average price at which 103.68 trillion SHIB was previously bought by 342,490 addresses.
Shiba Inu launches developer portal on Shibarium
According to SHIB team member Lucie, Shiba Inu has released a new developer portal to accelerate growth on Shibarium, its Layer-2 blockchain. The hub is intended to provide developers with a single point of entry to everything they need to get started building, eliminating the need to go through several forums or unofficial manuals.
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The platform consolidates key resources, including Software Development Kits (SDKs) for smart contract deployment, RPC endpoints for direct network connectivity and official documentation with explicit instructions, dedicated support and ecosystem direction. It also offers technical explanations geared to both novice and experienced developers, making onboarding easier and faster.