Shiba Inu (SHIB), currently experiencing a period of low volatility, is trading at $0.00000813, maintaining this level for the past seven days. This stagnant price movement paves the way for a potential shift in SHIB’s trajectory.
As we explore the implications of the global in/out of the money (GIOM) metric by IntoTheBlock, crucial insights emerge on the limited supply of SHIB tokens needed to propel the price forward.
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The GIOM metric sheds light on the average cost at which tokens were acquired for addresses with a balance. It categorizes addresses as “in the money” if the current price surpasses the average cost and “out of the money” if it falls short.
According to this metric, a mere 76 trillion SHIB tokens remain for the price to surge, suggesting that many SHIB holders are “in the money.” Such a concentration of holders in profitable positions could potentially act as a resistance level for the cryptocurrency.
Examining SHIB’s price movement from a technical standpoint unveils a delicate balance. The low volatility indicates a lack of buying pressure, signaling potential concerns. However, this also means that the price requires less liquidity to climb upward, presenting a favorable scenario if an unexpected surge in buying power occurs.
The advantage lies in the fact that less capital would be needed to propel the price higher. Additionally, the impending developments within the Shiba Inu ecosystem, particularly the relaunch of Shibarium, possess the potential to serve as catalysts for significant price movement.
Although encountered initial obstacles like over 1,000 ETH being held in the bridge, the relaunch has the capacity to shape market sentiment and potentially incite a price surge.
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The current landscape of low volatility and the GIOM metric not only indicate a resistance level for SHIB but also present an opportunity.
Due to the low liquidity requirement for price movement, a sudden surge in buying power has the potential to significantly propel the price higher. This dynamic implies the possibility of substantial gains should market conditions favor increased demand for SHIB.
Shiba Inu’s price stagnation, characterized by low volatility, has sustained SHIB at a level of $0.00000813 for the past week. Utilizing the insights offered by the GIOM metric, it becomes evident that a limited supply of 76 trillion SHIB tokens remains to ignite significant price progress.
While this scarcity acts as a resistance level due to the concentration of “in the money” holders, it also reveals an opportunity for a price surge with an influx of buying power.
As SHIB movements find equilibrium amidst low volatility, the landscape awaits the potential catalysts presented by the upcoming relaunch of Shibarium. As SHIB holders and market participants navigate this intricate landscape, the next phase of SHIB’s market trajectory remains laden with anticipation.
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