Shiba Inu’s Price Plunge: Will It Add a Zero or Just a Laugh? 😂

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Ah, the whimsical world of dog-themed cryptocurrency, where Shiba Inu (SHIB) finds itself at a crossroads, teetering on the edge of financial oblivion! A slip below a vital support level could send its value spiraling downwards, perhaps even adding a delightful little zero to its price tag. How charming! 🐶💸

As of this very moment, SHIB has taken a nosedive of 6.44% in the last 24 hours, now resting at a meager $0.00001387 after plummeting to the depths of $0.000013. What a rollercoaster ride! 🎢

According to the wise sages at IntoTheBlock, Shiba Inu is precariously perched on a crucial support level, where a staggering 77 trillion SHIB tokens were snatched up at an average price of $0.00001. Should SHIB fail to cling to this lifeline, the selling frenzy could push its price even lower, adding yet another zero to its already comical price tag. Who knew numbers could be so entertaining? 😂

Currently, Shiba Inu is hovering near a critical price floor of $0.000013, a level that once stood as a bastion of support back in the golden days of September 2024. The beloved dog coin is fighting tooth and nail to stay above this crucial threshold amidst the ongoing market sell-off, raising eyebrows and concerns about its short-term price trajectory. Will it rise like a phoenix or sink like a stone? 🦅💔

The broader crypto market is experiencing a tempest of volatility, and weak momentum could spell further doom for Shiba Inu in the days to come. For SHIB to avoid a catastrophic plunge, the bulls must rally to defend this vital support level and regain some semblance of upward momentum. Come on, bulls! 🐂💪

Crypto Market Faces Sell-Off

In a dramatic turn of events, Shiba Inu took a sharp dive during late Monday trading, mirroring the rest of the crypto market’s dismal performance. The sell-off continued into the early Tuesday session, with Bitcoin dipping below $90,000, thanks to the relentless selling pressure in equities as the crypto market eagerly awaits its next bullish catalyst. Will it ever come? 🤔

Other cryptocurrencies fared even worse, with the entire crypto market capitalization plummeting by roughly 8%. According to the ever-reliable CoinGlass statistics, over $1.38 billion in bullish crypto positions were liquidated from futures markets in the last 24 hours. Ouch! 💔

In the coming days, all eyes will be glued to the SHIB price trends; an additional drop might just add another zero to its price, while a triumphant break above the daily SMA 50 and 200 around $0.0000182 and $0.0000192 would be the first sign of strength for the bulls. Fingers crossed! 🤞🐕

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2025-02-25 18:28