The Shiba Inu (SHIB) token is once again under pressure, with the current price threatening to add another zero. This situation occurs amidst a general downturn in the crypto market, especially among altcoins.
Current Situation on SHIB Price
As of June 19, SHIB is trading at $0.00001151, just slightly above the support zone that has held since early 2022. This is a technically significant area that SHIB bulls have defended multiple times over the past two years.
Crypto Market and Token Movements
The current price fluctuations of SHIB come at a time of overall decline in the crypto market. While Bitcoin remains stable, alternative coins, including SHIB, are experiencing significant declines.
Prospects and Risks for Shiba Inu
With the current price, there is no immediate structural support below. If the $0.00001 level breaks, Shiba Inu's price could quickly slide into uncharted territory. Despite this, SHIB has a loyal following, and market watchers will be keen to see the developments in the coming days.
The future of the SHIB token this season and into 2025 depends on its ability to maintain current levels and the market's reaction to upcoming price fluctuations.
