Shiba Inu (SHIB) Won’t Add Another Zero? Price Making Comeback
The post Shiba Inu (SHIB) Won’t Add Another Zero? Price Making Comeback appeared on BitcoinEthereumNews.com.
The price of Shiba Inu has been moving near the psychologically significant $0.000010 level in recent days due to strong selling pressure. SHIB is demonstrating unexpected resilience in the face of the market’s continuous volatility, remaining stable at around $0.0000113 as of press time. This important support zone has historically served as the meme token’s lifeline. According to a price chart analysis, SHIB has tested this support zone several times in the last 12 months, creating a horizontal baseline that currently acts as the last line of defense before the token’s price drops by another zero. Each time this level was reached it was encouragingly followed by a bounce, suggesting that investors with long-term potential are exerting strong accumulation pressure. SHIB/USDT Chart by TradingView What is noteworthy at this time is that SHIB is not only surviving but stabilizing even in the face of significant liquidation events on the larger market and the collapse of multiple altcoins below critical support. Indicating the possibility of a rebound if market sentiment keeps improving, the Relative Strength Index (RSI) has moved into the oversold area (35). Related Additionally the trading volume has begun to decline, which could indicate that the sell-side pressure is abating. SHIB is among the altcoins that are struggling to gain traction as the market is stabilizing following the recent Black Monday sell-off that was brought on by worries about global tariffs. Related The next significant resistance level for SHIB is located at or near $0.0000128 and $0.0000138. The 50-day moving average which is presently trading close to $0.000015 may be retested if there is a successful breakout above these levels. Although caution is still necessary, the meme coin may avoid the dreaded scenario of adding another zero if SHIB can maintain its position above its critical support and bearish…
Filed under: News - @ April 9, 2025 2:12 am