The price of Shiba Inu continues to fall drastically due to the escalating situation in Iran and the overall crash of the cryptocurrency market. The token's market cap has significantly decreased.
Overall Decline of Shiba Inu Price
The price of Shiba Inu token dropped to $0.000011, marking a 38% decline from its peak in May. Its market capitalization fell from $19 billion last November to $6.4 billion.
Crypto Market Under Pressure
The plunge in SHIB coincides with the overall collapse of the crypto market following U.S. President Donald Trump's order to bomb nuclear sites in Iran. This event poses significant risks to all markets.
Current Forecasts for Shiba Inu
Futures for Shiba Inu have plummeted to $122 million, the lowest level since May. At the same time, a double-bottom pattern is forming at $0.00001030, which may signal a potential upward movement.
Shiba Inu's price continues to demonstrate negative trends; however, the presence of a support level at $0.00001030 may offer hope for a possible recovery in the future.
