The post Losing This Support Could Add Zero appeared on BitcoinEthereumNews.com.

Dog-themed cryptocurrency Shiba Inu (SHIB) is at a decisive juncture, and a breakdown below a key support could lead to a major decline, potentially adding another zero to its price tag. At the time of writing, SHIB was down 6.44% in the last 24 hours to $0.00001387 after dropping to lows of $0.000013. Related According to data from IntoTheBlock, Shiba Inu is sitting on crucial support, where 77 trillion SHIB tokens were bought at an average price of $0.00001. If SHIB fails to hold this level, increased selling pressure could push its price lower, adding another zero to its price tag. Global In/Out of the Money, Courtesy: IntoTheBlock Shiba Inu is currently hovering near a critical price floor near $0.000013 that acted as strong support way back in September 2024. The popular dog coin is battling to hold above this crucial level amid the ongoing market sell-off, raising concerns about its short-term price trajectory. Broader crypto market volatility and weak momentum could contribute to further downside for Shiba Inu in the coming days. For SHIB to avoid a further sell-off, bulls must defend this crucial support level and regain upward momentum. Crypto market faces sell-off Shiba Inu fell sharply in late Monday trading, mirroring the rest of the crypto market, and the sell-off continued into the early Tuesday session. Bitcoin dipped below $90,000 overnight, aided by selling pressure in equities as the crypto market awaits its next bullish catalyst. Related Other cryptocurrencies fared worse, with the entire crypto market capitalization dropping roughly 8%. According to CoinGlass statistics, more than $1.38 billion in bullish crypto positions were liquidated from futures markets in the last 24 hours. In the following days, all eyes will be watching where SHIB price trends next; an additional drop might add another zero to its price, while…

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Filed under: News - @ February 26, 2025 12:17 am