Price of SHIB Falls to Record Low; Will $0.000015 Support Remain?
Since its start four years ago, Shiba Inu has announced increases of 150 million percent.
The selling pressure on Shiba Inu has decreased since June, as the supply on exchanges has decreased by 5%.
As of this writing, SHIB is trading at $0.000015, after an almost 5% decline on Friday.
The Shiba Inu (SHIB) is turning four years old today. With a market valuation of $8.94 billion, the meme currency featuring dogs is the second-biggest asset in the category. This past Friday, SHIB lost almost 5% of its value, falling to $0.000015 on August 1st.
Hope for healing shown by Shiba Inu on-chain measurements
There was a 5% decrease in the supply of Shiba Inus on exchanges over the previous two months. Since there is a decrease in the quantity of tokens in exchange wallets from June to August, the selling pressure on SHIB is reduced.
More than $2.3 million has been lost by SHIB holders in the last two days. The net profit or loss of each token exchanged on a particular day is measured by the Network Realized Profit/Loss statistic (NPL). According to the statistic, SHIB holders lost more than $2.3 million.
If traders are consistently realizing losses, it might indicate a surrender. When this happens, the asset usually recovers, therefore traders should keep a watch on this indicator.
On August 1, Shiba Inu made the formal announcement that it would be celebrating its fourth birthday.
As of this writing, one Shiba Inu is worth $0.000015.
