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Shiba Inu now trades at the $0.000015 price level, which is the support of the "last resort," and there is a real possibility of an aggravation. We might even see Shiba Inu adding another zero to its price if $0.00001 does not hold.
Recent pressure on Shiba Inu has been substantial, reflecting the decline on the cryptocurrency market as a whole. Right now, the asset is trading near the crucial support level at $0.00001541. The 50 EMA at $0.00002179, the 100 EMA at $0.00002131 and the 200 EMA at $0.00001944, which collectively indicate a bearish trend, are the key moving averages that SHIB is trading below, according to technical indicators.
SHIB is in oversold territory according to the RSI at 26, but this might not be enough to stop further declines. For SHIB, the $0.000015 level is critical. The next key level to keep an eye on is $0.00001 if this support breaks. If SHIB breaks below this barrier it might add another zero to its price, dealing a serious psychological blow to investors and possibly increasing selling pressure.
Godfrey BenjaminAccording to the token summary, 48% of holders are profitable at the current price, compared to 49%, who are not. Such a rate mostly suggests that uncertainty is what currently prevails on the market, and the situation is unlikely to change in the foreseeable future.
Shiba Inu's ability to maintain the $0.000015 support level will determine its fate. Failure to maintain this level might cause SHIB's price to drop precipitously and possibly add another zero. Investors should keep a close eye on Bitcoin's performance as well as more general market trends, as they seem to impact SHIB's performance substantially.
Tomiwabold Olajide
Gamza Khanzadaev
