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The price of Shiba Inu (SHIB) continues to flirt with the key support level at $0.000011, with just a few percentage points separating the popular meme cryptocurrency from adding another zero to its number.
So here's the deal with SHIB right now: the meme coin has been on a steady decline since peaking late last year, and traders have been waiting to see if it can hold at its current support level or if it will continue to slide and eventually drop to the $0.000009 level.
Tomiwabold OlajideThis almost happened at the beginning of this week as the U.S. stock market had its worst opening since about 1987, and all the headlines screamed "Black Monday." However, the cryptocurrency market remained strong, and according to various analysts, it absorbed all the negative and downward movement of the previous weekend.
At that time, the Shiba Inu coin slipped below the resistance and landed right at $0.00001, where buyers rushed in, and after yesterday's sudden shift in U.S. tariff policy, pulled the SHIB price up by 12%. Salvation arrived, and the most logical question now is: what's next for SHIB? There are several answers to this question, with a scenario behind each of them.
Arman ShirinyanThe first and most conservative option for a meme coin is to make it to the $0.0000125-$0.00001433 range and stay there. This is the safe option, which will ensure that the Shiba Inu coin will not add zero to its price and just accumulate in the lowest support.
Caroline AmosunThe more daring option for SHIB would be to rocket right to the next major price point at $0.000017, which is 42% above the current price. To pull off a move of this magnitude for the Shiba Inu coin, the conditions are much more serious than they are now.
At least some sort of certainty about politics, economics and markets is needed. Thus, it is more about the world as a whole than just SHIB.
Vladislav Sopov
Dan Burgin