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471 Trillion SHIB: What's Next for Shiba Inu's Price?
Dog-themed cryptocurrency Shiba Inu (SHIB) is currently at a critical juncture as it approaches a significant support level of 471.54 trillion SHIB, while its price has dipped below the $0.00002 mark.
At the time of writing, SHIB was down 5.32% in the last 24 hours to $0.00001978, with a 62% increase in 24-hour trading volume. Despite this activity, the price has been trending downward, matching the overall decline on the cryptocurrency market. This dip could be attributed to several factors, including profit-taking by investors.
The price decline brings SHIB closer to a crucial support level, where a large amount of SHIB was previously acquired by holders. According to IntoTheBlock data, Shiba Inu sits on a major support next to where it currently trades: 471.54 trillion SHIB were acquired by 83,670 addresses in the range between $0.000014 and $0.000019 at an average price of $0.000016.