[Should Shiba Inu (SHIB) add zero? Unprecedented changes in prices】
Currently, the price of Shiba Inu (SHIB) is at the critical support level of $0.000015, which is considered the “last line of defense.” If this support fails, SHIB’s price could deteriorate further, possibly even adding another zero.
Shiba Inu Coin has been under considerable pressure lately, mirroring the decline in the overall cryptocurrency market. Currently, SHIB is trading close to the key support level at $0.00001541. According to technical indicators, SHIB is trading below the 50-day moving average (EMA) $0.00002179, the 100-day EMA $0.00002131, and the 200-day EMA $0.00001944, which indicate that the current trend is bearish.
According to the Relative Strength Index (RSI), SHIB has an RSI value of 26, which puts it in oversold territory, but that may not be enough to prevent further losses. For SHIB, the support level at $0.000015 is crucial. If this support breaks down, the next key level to watch is $0.00001. If SHIB falls below this level, its price could add another zero, which would be a severe psychological blow to investors and could increase selling pressure.
According to the token summary, 48% of holders are currently in profit at current prices, compared to 49% of holders who are in the red. Such a ratio indicates that the market is currently mainly in a state of uncertainty, and the situation may not change significantly in the short term.
Whether Shiba Inu Coin can hold on to the support at $0.000015 will determine its fate. If it fails to maintain this level, SHIB's price could drop sharply and possibly add another zero. Investors should pay close attention to the performance of Bitcoin as well as broader market trends, as these factors can have a significant impact on SHIB's performance.
