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Shiba Inu is on the verge of losing the $0.00003 price threshold. This price point has been crucial for SHIB as it has struggled to maintain its position above this threshold. The breakdown will most likely lead to a crucial price reversal.
When we look at SHIB's price chart, we see that the price went up sharply not too long ago. But now that excitement is less, and the price is going down toward that important $0.00003 level. If SHIB's price goes under this, it might keep going down even more.
There are two prices to keep an eye on now: $0.000027 and $0.000021. These are major support levels for SHIB's price. If SHIB's price goes below $0.00003, these levels could be where the price stops falling and starts to stabilize.
But there is also a chance that SHIB's price could go back up. If people start to get interested in SHIB again and buy more of it, the price could rise above $0.00003 once more. The most likely reasoning behind this would be a general market reversal. Additionally, we might see a scenario like this play out after Shiba Inu's correction ends and buying power returns to the market.
What happens next with SHIB will depend a lot on whether more people want to buy or sell. If buyers think the price is low and a good deal, we might see the price go up again.
The overall mood about meme coins like SHIB can also make a big difference. In general, the meme coin industry is getting more strength, however, Ethereum-based meme coins are not yet gaining enough traction. Leading chains for memes are Base and Solana.
Godfrey Benjamin
