91.7T Shiba Inu Form Strong Support at $0.000015

91.7 trillion Shiba Inu (SHIB) tokens have formed a strong support level at $0.000015. This level is being defended by a large cluster of tokens, indicating significant investor interest in SHIB at this price. Despite the overall selling pressure in the crypto market, which has slowed down in July, there are bullish sentiments surrounding SHIB and altcoins like Bitcoin. However, both Bitcoin and SHIB have experienced declines in July, with SHIB witnessing a larger drop of 8.63%. Experts anticipate that SHIB’s price decline will precede a potential recovery. Currently trading at $0.00001567, SHIB relies on its robust support level as the meme coin seeks defense. Remarkably, there is a significant demand wall at this level, with 48,740 addresses holding 91.77 trillion SHIB tokens at an average price of $0.000015. This support volume is surpassed only by the massive defense at $0.000010, consisting of 155.15 trillion SHIB tokens. Additionally, increasing demand for SHIB and constant exchange withdrawals contribute to the bolstering of this support level. Bulls have bought more SHIB than bears have sold in recent weeks, resulting in excess demand for SHIB. Furthermore, net outflows from exchanges indicate a decrease in selling pressure. To maintain the $0.000015 support, SHIB must defend the lower Bollinger Band at $0.00001526 and, if necessary, rely on Fib. 0 ($0.00001513) as the last line of defense.