Shiba Inu’s Bullish Momentum Uncertain: Is $0.000012 a Turning Point?

Despite Shiba Inu (SHIB) consolidating above its key support level at $0.000012, questions linger about whether bulls can hold this critical area and prevent a deeper decline. Recent on-chain data reveals accumulating whales while exchange net flows remain negative since August 17th. This suggests that tokens are being withdrawn from exchanges, often interpreted as a signal of accumulation by long-term investors. The cost basis distribution heatmap highlights the $0.000012 region as a significant buying zone where SHIB was acquired en masse. Protecting this level is crucial to prevent a larger sell-off.