The Shiba Inu (SHIB) ecosystem is showing strong signs of momentum as it breaks key on-chain records and stabilizes above a critical support level. Despite ongoing market volatility, the meme coin has demonstrated resilience, recently bouncing from $0.00001188 to trade around $0.00001253—a nearly 6% rebound. This recovery coincides with a historic milestone: more than 1.5 million blockchain wallets now hold SHIB, signaling growing adoption and sustained investor confidence.
As broader crypto markets react positively to macroeconomic developments—such as renewed U.S.-China trade talks—SHIB’s fundamentals and technical indicators suggest potential for further upside. However, resistance looms ahead, and traders should remain cautious of profit-taking zones that could stall the rally.
👉 Discover how network growth is fueling the next wave of SHIB momentum.
Market Outlook: Crypto Rebounds Amid Geopolitical Developments
The wider cryptocurrency market has seen a modest rebound, led by Bitcoin pushing past $107,000. This upward movement follows the announcement of a second round of U.S.-China trade negotiations scheduled in London—an event that has boosted investor sentiment across digital assets.
While Bitcoin leads the charge, altcoins like Ethereum (ETH), Solana (SOL), and emerging protocols are also showing signs of strength. Meme coins, in particular, are regaining ground. Dogecoin (DOGE) and Shiba Inu (SHIB) have both reduced recent losses, hinting at a potential weekly reversal.
This improving macro backdrop provides a favorable environment for SHIB’s recovery, especially as on-chain data reveals increasing user engagement and demand.
SHIB Hits Major Milestone: Over 1.5 Million Wallets Now Hold the Token
A significant indicator of Shiba Inu’s growing adoption is the surge in active wallet addresses. The network has reached a new all-time high with 1,510,424 unique wallets now holding SHIB tokens. This growth persists despite price fluctuations, reflecting long-term confidence in the project’s ecosystem.
Increased wallet adoption directly correlates with rising demand. More holders mean greater potential for price appreciation, especially if buying pressure continues to outpace selling.
Supporting this trend, derivatives market data shows rising interest in SHIB:
- Open Interest (OI) has increased by 3.66%, reaching approximately $156.5 million.
- Trading volume spiked over 26%, hitting $117.43 million, according to CoinGlass.
These metrics highlight growing participation and bullish sentiment among traders. When combined with strong on-chain fundamentals, they reinforce the possibility of a sustained recovery following the recent dip to $0.00001188.
👉 See how rising open interest signals stronger market confidence in SHIB.
Technical Analysis: Can SHIB Break Past $0.000013?
At the time of writing, SHIB is trading near $0.00001253**, showing modest daily gains. The bounce from the **$0.00001188 support level suggests short-term bullish momentum, with eyes now set on overcoming $0.00001300—a key resistance threshold.
If this level is breached, the next targets come into play:
- $0.00001419 – aligned with the 100-day Exponential Moving Average (EMA)
- $0.00001557 – corresponding to the 200-day EMA
Traders monitoring technical indicators will be watching for confirmation signals:
- The MACD (Moving Average Convergence Divergence) currently reflects a lingering sell signal from May 17, which may limit immediate upside.
- However, the Relative Strength Index (RSI) is climbing toward the 50 neutral zone, indicating strengthening bullish momentum. A move above 50 would further validate the uptrend, while progression into overbought territory (>70) could confirm strong buying pressure.
Key Resistance Zone Identified by On-Chain Data
IntoTheBlock’s IOMAP model highlights a critical resistance cluster around $0.000013. At this price point:
- Approximately 22,400 addresses previously purchased 17.52 trillion SHIB tokens.
- These holders are likely sitting near breakeven or slight profit territory.
As SHIB approaches this level, these investors may choose to exit positions, creating significant selling pressure. This “profit-taking wall” could slow or temporarily reverse the rally.
Additionally, broader market conditions—including macroeconomic shifts and crypto-wide sentiment—will play a crucial role in determining whether SHIB can push past this barrier or retreat toward April’s low of $0.000011029.
Frequently Asked Questions (FAQs)
Q: What does it mean when a cryptocurrency reaches a new wallet address record?
A: A growing number of unique wallet addresses indicates increasing adoption and network activity. For SHIB, surpassing 1.5 million wallets suggests strong community engagement and long-term holder confidence.
Q: How does open interest affect SHIB’s price?
A: Rising open interest in futures markets reflects growing trader participation. When combined with increasing prices, higher OI often confirms bullish trends—though sudden drops can signal liquidations or reversals.
Q: Why is $0.000013 a key resistance level for SHIB?
A: This level marks a major concentration of past buying activity. Around 22,400 addresses acquired trillions of SHIB tokens here, making it a likely zone for profit-taking and increased sell-side pressure.
Q: Can SHIB break above its moving averages?
A: Yes—breaking above the 100-day and 200-day EMAs would be a strong bullish signal. However, sustained volume and positive market sentiment are needed to overcome resistance and drive momentum.
Q: How do macro events like trade talks impact meme coins?
A: While meme coins are often driven by speculation, broader market sentiment influenced by geopolitical or economic news can indirectly boost risk appetite—leading to inflows into high-beta assets like SHIB.
Final Thoughts: Growth Meets Caution
Shiba Inu’s journey continues to evolve beyond meme status. With over 1.5 million wallets holding the token and derivatives activity on the rise, the ecosystem demonstrates real traction. The recent rebound from $0.00001188 offers hope for further gains—especially if bullish momentum builds.
However, technical hurdles remain. The $0.000013 resistance zone represents both an opportunity and a challenge. Traders should monitor volume, RSI trends, and macro developments closely.
Ultimately, while short-term price action may be volatile, the growing on-chain footprint of SHIB underscores lasting interest in its long-term potential.
👉 Stay ahead of the next breakout—track real-time SHIB data and trends here.
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