The Shiba Inu cryptocurrency is facing a price drop along with other assets in the market. Currently, SHIB has decreased by 5.25% in the last 24 hours.
Overall State of Shiba Inu
Since the beginning of the decline on May 28, the price of Shiba Inu has fallen to $0.00001257. This marks the sixth consecutive day of losses. During Friday's session, SHIB broke below the 50-day SMA ($0.00001378) for the first time since April 22.
Market Decline
The broader cryptocurrency market is also experiencing sharp declines. Traders faced liquidations amounting to $687 million, with 89% of them being long position liquidations. The largest single liquidation order was for $12.25 million on BTC/USDT.
Analysis of Shiba Inu Assets
Shiba Inu further declined to $0.00001226, entering a range where 30.49 trillion SHIB were previously bought. Data shows that 64,000 addresses hold tokens in the $0.000012 to $0.000013 range. Support is located at $0.000008 and $0.000012, where 60.37 trillion SHIB currently sits.
The price of Shiba Inu is demonstrating a decline amid the general downturn in the cryptocurrency market. Investors are monitoring support and resistance levels to assess future dynamics.
