The price of Shiba Inu (SHIB) has increased by 40% in the last seven days, but it faced resistance at $0.000030. Despite the setback, on-chain data suggests that SHIB holders remain confident, with the Coin Holding Time metric showing a significant increase, indicating bullish conviction. The Balance by Time Held metric also reveals that most traders who recently accumulated SHIB are still holding it. The daily chart shows major resistance at $0.000028, but bulls are defending the region. The Moving Average Convergence Divergence (MACD) remains in the positive zone, indicating positive momentum. If the positive momentum continues, SHIB's price could rally towards $0.000030 or even $0.000035 in a highly bullish scenario, but if support is neutralized, it could decline to $0.000021 or $0.000017 if selling pressure intensifies.



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