Shiba Inu (SHIB) continues to lose ground in the cryptocurrency market, with significant focus on support levels and price volatility.
Current Price Situation of SHIB
SHIB is trading at 0.00001096 and shows a slow, steady decline since reaching its peak in late 2024. Currently, the token has dipped below a key support zone, often seen as a psychological level.
Technical Analysis and Forecasts
Charts show increased volatility in the short term, with the price dipping below support earlier. The main issue is the high volume of selling, which seems to be quite significant. Moving averages indicate a bearish trend, and bulls have not taken control in either the daily or intraday timeframe.
Future of SHIB in the Meme Token Market
SHIB is testing significant support areas, drawing the attention of traders watching for potential rebounds. If the token closes below 0.000011 in the coming sessions, it could confirm the bearish outlook and result in a new lower price valuation.
Current trends indicate potential difficulties for Shiba Inu (SHIB) in the near future, raising questions about the likelihood of price recovery.
