Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
For the first time since 2024, Shiba Inu's price has fallen below the $0.000015 level, which means it faces yet another crucial moment. After soaring on waves of speculative excitement, the meme coin is currently facing fierce selling pressure and seeing a sharp decline in value as it approaches crucial support levels.
Throughout Shiba Inu's recent trading history, the $0. 000015 level has served as a significant price floor. However, the market's general lack of bullish momentum, combined with the ongoing downward trend, has caused SHIB to drop below this critical level. Given that breaking below important support levels frequently results in accelerated selling and lower lows, this move further supports the bearish outlook for the token.
The next significant price level is currently at roughly $0.000012. For SHIB holders, this might offer some short-term respite, but the asset's performance indicates that more losses might be forthcoming. The decline of Shiba Inu is mostly due to the general unpredictability of the market and the decline in interest from whales, or large investors.
Even though there was once hope for SHIB's ecosystem, advancements like Shibarium and staking programs, the token has not been able to regain the momentum that took it to its highest points. Technical indicators also give a negative impression. Weak demand has been indicated by the Relative Strength Index (RSI), which has been lingering close to oversold territory.
Alex DovbnyaAdditionally, trading volume has remained flat, indicating that there is not much interest in buying SHIB at the current price. Shiba Inu's short-term prospects seem bleak, but the cryptocurrency market is notoriously volatile, and sudden reversals are always possible.
SHIB may be able to stop additional losses and level off at the present levels if it can swiftly recover $0.000015. However, a test of the $0.000012 support appears unavoidable if the bearish trend persists.
Dan Burgin
Vladislav Sopov