Amid the crypto market's instability, attention has turned to Shiba Inu (SHIB), a popular meme coin currently trading between $0.0000117 and $0.000012.
Current Market Landscape of SHIB
Over the past month, SHIB has seen a noticeable decline, dropping between 19% and 21%. Even in the last week, the asset showed a slight downturn ranging from 0.7% to 11%. Despite this, SHIB appears to be holding above a key support level near $0.000011, which could indicate early signs of buyer accumulation.
Technical Barriers and Bearish Pressure
Despite signs of accumulation, SHIB faces significant technical resistance, remaining below its 50-day, 100-day, and 200-day moving averages. There are also concerns about a potential 'death cross', indicating continued downward momentum.
Google Gemini's Price Forecast for July 1, 2025
Google Gemini provides three scenarios for SHIB's price on July 1, 2025. In the first scenario, prices are expected to stabilize without catalysts around $0.000012 - $0.0000125. The second scenario anticipates a technical recovery with a price range of $0.0000125 - $0.000014. The third, more optimistic scenario, suggests significant catalysts could drive prices between $0.0000145 and $0.000017.
Shiba Inu's path in the coming days hinges on technical structures and broader market behavior. Despite current bearish trends, signs of buyer interest could indicate short-term recovery.
