The Shiba Inu (SHIB) token has managed to overcome recent price fluctuations and stabilize after sharp declines that raised concerns among investors.
Current Market Situation for SHIB
After dropping to $0.00001188 on August 25, Shiba Inu has managed to recover and is currently trading around $0.00001250. However, it saw a 1% decrease over the past week.
Support from Major Investors
In the past three days, a major investor withdrew over 204 billion SHIB from Coinbase. These transactions have boosted market confidence, as small investors often view significant moves by large players as a signal of token strength.
Psychological Significance of Price Threshold
The $0.00001 mark remains an important psychological boundary for SHIB holders. The token has not traded with five zeros since February 2024, and avoiding this scenario is seen as a win for the community.
Currently, with support from major investors and improving technical indicators, the Shiba Inu token shows signs of stability, allowing holders to feel more confident in the market.
