Can Shiba Inu (SHIB) delete another zero and surpass its all-time high?
At press time, SHIB’s price is $0.000023, down 73.02% from its peak of $0.000088 in October 2021. Moreover, this drop is a 3.20% drop in the past 30 days.
However, SHIB KNIGHT, an analyst who has been bullish on the token, believes that the price can reach $0.0001. According to his post on X, he mentioned that Shiba Inu can reach the target in a short time.
Bears won’t give up
The last time SHIB erased a zero from its price was in February. At that time, the price fluctuated from $0.0000095 on the 22nd.
By the end of the month, SHIB’s price had reached $0.000012 before surprisingly surging to $0.000035 in the first 10 days of March.
As of this writing, the gap between longs and shorts is 4 (shorts have an advantage). This indicator is important for the price of Shiba Inu because it tracks the number of addresses that have bought or sold 1% of the token's trading volume.
When bulls have the upper hand in this regard, it means that the token price is likely to rise. But since shorts are dominant, the selling pressure has reached 1%, which means that SHIB may fall again.
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