The once-popular cryptocurrency #加密市场盘整 has recently seen a significant drop in price. The market is volatile, undergoing a shakeout, with a large outflow of RMB funds, causing the price of SHIB to fall directly to $0.000021.

This price is not ordinary; it is a key support level for SHIB and a focal point for everyone. Digging into on-chain data reveals more insights. According to IntoTheBlock data, at this price level, retail investors have hoarded over 362 billion SHIB across 270 addresses. If it drops to $0.000019, 54350 addresses holding 539.1 trillion SHIB, worth $1.19 billion, may start to sell.

Looking back, when it fell to $0.000026, 119490 addresses contained 894.7 trillion SHIB, worth $1.97 billion, all facing losses (excluding those who bought at lower prices).

In this case, the potential selling pressure on SHIB exceeds 35.5 trillion, which is roughly the same as the current price. It remains uncertain how this pressure will influence SHIB's price.