Shiba Inu, a popular meme token, has fallen below the $0.000015 mark for the first time since 2024. This event could be a pivotal moment for the cryptocurrency facing strong selling pressure.
SHIB Historical Price and Support
Throughout its recent trading history, the $0.000015 level has served as a key price floor for Shiba Inu. However, the lack of bullish momentum and ongoing downward trend have led SHIB to fall below this critical level.
Reasons for the Price Decline
The decline of Shiba Inu is mainly due to the overall market uncertainty and reduced interest from large investors. Despite hopes for the SHIB ecosystem with projects like Shibarium and staking programs, the token has failed to regain lost momentum. Technical indicators also suggest weak demand.
Market Forecasts and Prospects
Shiba Inu's short-term prospects seem bleak, but the cryptocurrency market is known for its high volatility. If SHIB can swiftly recover the $0.000015 level, this might prevent further losses. Otherwise, a test of the $0.000012 support is inevitable.
Shiba Inu's price is facing a new critical level, and the near future will show whether the token can hold its ground or if the decline will continue.
