Will Shiba Inu erase zero? 110 trillion SHIB key to 100% price jump

Shiba Inu could be on the verge of a significant breakthrough in its price action with a threshold of 110 billion SHIB holding the key to the SHIB price doubling in value.

According In the blockAccording to the breakeven price indicator, 327,200 Shiba Inu addresses purchased 110.27 billion SHIB between the range of $0.000026 and $0.000051 at an average price of $0.000034. This is pretty close to the current Shiba Inu price range.

This implies that over 327,000 addresses would require SHIB to rise to $0.00005 to break even.

While the 110 billion SHIB tokens present a formidable barrier, they also hold the key to a potential increase in value. That is, if taken from current Shiba Inu prices, a jump to $0.00005 represents a 100% increase in the value of SHIB.

What makes this threshold more significant is that a successful breach above it has the potential to erase a zero from the price of SHIB. Next to the 110 trillion SHIB threshold is a range where 126,520 addresses bought 37.13 trillion SHIB above the price of $0.000051.

A successful takeover of this level could erase a zero from SHIB’s price and propel it to new all-time highs.

The appearance of a bullish flag pattern on the Shiba Inu daily chart also adds to the bullish outlook regarding its price. At the beginning of the week, crypto analyst Ali highlighted that Shiba Inu appears to be forming a bullish flag on its daily chart that could trigger a bullish breakout and send SHIB price to $0.000072323.

At the time of writing, SHIB had risen 7.75% in the last 24 hours to $0.000025, mirroring the rally in dog coins.

Shiba Inu has been increasing steadily over the past four days; Technically, the price finds short-term resistance at the daily MA 50 of $0.0000263. A successful breakout above here may be required for SHIB to break out of its current trading range and build momentum for a fresh bullish rise.