Will Shiba Inu (SHIB) Add Another Zero After This?

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As a seasoned researcher with years of market analysis under my belt, I must say that the current trajectory of Shiba Inu (SHIB) is giving me a sense of deja vu. The meme coin has been on quite a rollercoaster ride, and it seems we might be in for another dip.

It appears that Shiba Inu might experience a significant shift, potentially leading to an additional zero in its price. After a short surge, Shiba Inu has shown signs of slowing down, implying that it may struggle to maintain its bullish trend.

The meme token may experience further declines and move toward lower price levels as a result of overall market conditions and a lack of significant buying activity. Shiba Inu has already seen a large decline from its recent highs, and the current momentum indicates that more declines may be forthcoming. 

Will Shiba Inu (SHIB) Add Another Zero After This?

At present, the stock is valued at approximately 0.000018 dollars. If the selling pressure continues, the Shib token could potentially drop further, encountering crucial support levels that may offer temporary relief before any possible recovery. The level of $0.00001685, which was previously a resistance point, now appears to be a significant support level worth monitoring closely.

If Shiba Inu (SHIB) fails to maintain its current level at $0.00001572 – a point that has recently served as a consolidation zone – there may be a larger sell-off as traders decide to offload their holdings. This level could be the next major support for SHIB, and if it’s breached, it might indicate an increased risk of further price drops, as there was some trading activity in this area previously.

If the current downward trend continues, it’s crucial to keep an eye on $0.00001438 as the third key support level. Whether SHIB will add another zero to its price or not could hinge on this level. If SHIB fails to maintain this area, there’s a possibility it might dip into even lower price ranges and potentially increase the number of zeros in its already low price. This could lead to a more substantial correction.

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2024-09-30 17:44