SHIB Reaching Dangerous Price Level, a Drop Could Mean an Extra Zero

Oct 20,2022
SHIB Reaching Dangerous Price Level, a Drop Could Mean an Extra Zero

On October 18, Shiba Inu (SHIB) almost fell below the key level of US $0.000010 to US $0.0001007. At the start, SHIB changed hands at US $0.00001016, down 2.30% in the past 24 hours. A further decline from the current level is likely to mean that SHIB's price will increase by another zero, because it may test the level of $0.000009, and the bottom point on October 13 may be $0.0000092.

A year ago, the situation was different. Sunnis overcame the bull market problem on October 28, 2021, reaching a historical high of US $0.000088.

2022 is a tough year for the world market to collapse. With the need for new buyers in the data encryption market, Gokhstein felt that SHIB and other memetic digital currencies might eventually attract a new retail buyer to the market because the company's valuation was cheap.

What might happen next

In the past three days, SHIB tried to rebound $0.000010, but the two heads only touched the plate higher than $0.0000104, and then fell. The price is limited to USD 0.000010, which may indicate that the traders are not eager to buy when waiting for the market to establish the data signal.

The daily average system (MA) is tilted, and the RSI is still in a negative area, indicating that the merchants are in a good position. If the SHIB price loses the key level of $0.000010, then $0.0000092 may be the next level. If there is a sharp decline, SHIB may fall to the end of June at $0.00000712.

Or, if the buyer adopts the control method to push the price to $0.0000113 above the MA 50 every day, SHIB may reach the level of $0.000012 before detecting the natural barrier at $0.0000139. Upgrading this natural barrier is likely to represent the birth of buyers, which may lead to a retest of $0.000018.