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So here we are again, with Shiba Inu (SHIB) hanging by a thread, ready to either dive into the abyss or maybe, just maybe, spring back up. The price of this meme coin has been teetering, and it looks like we are about to see if it finds that second bottom.
A few days back, SHIB held strong, like a champ, at $0.00002, despite the market going nuts with nearly $1.5 billion in liquidations. That was supposed to be the floor, right? The point where everyone's like, "Okay, this is where we stop selling, and start buying." But, as it turns out, the floor had a trapdoor.
Gamza KhanzadaevIn the last day or so, SHIB took a 5% nosedive, slipping right under that $0.00002 mark. It is as if it wanted to test if that level was really as solid as we thought. Spoiler: it wasn't. Now, $0.00002 is not just a support; it has turned into a ceiling, a resistance level that the Shiba Inu token could not push past.
So where is it headed next? If we are looking at the charts, the next stop could be $0.00001923, where the 200-day median average is chilling. If it goes through that, there is another floor at $0.000017, which has been kind of like SHIB's safety net in the past.
Arman ShirinyanThe sentiment right now? It is like watching a tightrope walker in a storm. You know, one wrong step and down they go, but if they keep their balance, they might just make it to the other side. SHIB's community is on edge, eyes glued to their screens, wondering if this is the moment the coin bounces back or if we are in for more of a slide.
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.
Godfrey Benjamin
Arman Shirinyan
Dan Burgin
Vladislav Sopov