Shiba Inu to Erase Zero? 110 Trillion SHIB Holds Key to 100% Price Jump

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Shiba Inu (SHIB) may be on the verge of a significant price surge, with a key threshold of 110 trillion SHIB holding the potential to double its value.

Break-Even Price Threshold

According to IntoTheBlock's break-even price indicator, 110.27 trillion SHIB were purchased by 327,200 Shiba Inu addresses within a price range of $0.000026 to $0.000051, with an average purchase price of $0.000034. This is close to the current price range for SHIB.

This suggests that over 327,000 addresses would require SHIB to rise to $0.00005 to break even. Break Even Price, Courtesy: TradingView

Potential Surge in Value

While the 110 trillion SHIB tokens represent a significant barrier, they also hold the key to a potential surge in value. From SHIB's current price, a jump to $0.00005 represents a 100% increase.

Zero Erasure Potential

The threshold becomes even more significant because a successful breach above it could potentially erase a zero from the SHIB price. Adjacent to the 110 trillion SHIB threshold is a range where 37.13 trillion SHIB were purchased by 126,520 addresses above the $0.000051 price point.

A successful breakout above this level could erase another zero from SHIB's price and propel it to new all-time highs.

Bullish Chart Pattern

The emergence of a bull flag pattern on the Shiba Inu daily chart further supports the bullish outlook for its price. Crypto analyst Ali recently highlighted that SHIB appears to be forming a bull flag, which could trigger a breakout and send the price to $0.000072323.

Current Price Action

At the time of writing, SHIB is up 7.75% in the last 24 hours to $0.000025, mirroring the rally in dog coins. Shiba Inu has been steadily rising over the past four days, but faces short-term resistance at the daily MA 50 of $0.0000263. A successful break above this level could provide the impetus for a new bullish rise.