Shiba Inu’s 29 Trillion SHIB Trap: Where Would The Price Go Next?

• Shiba Inu has declined into a critical region.
• SHIB bulls and bears are battling with almost equal strength.
• A 29 trillion SHIB trap could determine Shiba Inu’s next direction.

Shiba Inu (SHIB), Ethereum’s well-known meme coin, has entered a critical trading zone. With prices hovering around the $0.000012 mark, both bullish and bearish traders are closely watching for its next significant move. 

This level puts SHIB at a point where neither side has clear control, meaning the next price swing could heavily influence the token’s path in the coming weeks or months.

$0.000012: A Key Technical Level for SHIB

From a technical perspective, the $0.000012 level is a notable support for SHIB, considering how often the price has tested it. 

The level’s importance also means it could quickly turn into a strong resistance point if the price decisively breaks and stays below it. Because of this, market analysts are looking closely at other indicators to understand SHIB’s current price action.

Related: Shiba Inu Analysts Target $0.0000236 After 280 Million Tokens Burned

RSI and On-Chain Data Signal Growing Pressure

For instance, Shiba Inu’s RSI stoo…

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