Shiba Inu Fights to Erase Extra Zero: Can It Break Through $0.00001?

By Edited By Ammar Raza,
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What to Know

  • Also Read: Shiba Inu’s 9M% Challenge: Can It Survive the Surge?
  • If buyers return in large numbers towards the coin, Shiba Inu might break through that ceiling at $0.00001.
  • SHIB's price may rise to levels of $0.0000113 or potentially reach $0.0000128 in the near term.
Shiba Inu
  • At press time, Shiba Inu moves through a stretchy phase in the market. The token price fights to climb back above the key level of $0.00001 which will benefit the ROI of this year.
  • Over the past 24 hours, the SHIB coin gained about 1.39%, and right now it trades around $0.00001021.
  • The current community market sentiment seems to be bullish, too.

At press time, Shiba Inu moves through a stretchy phase in the market. The token price fights to climb back above the key level of $0.00001 which will benefit the ROI of this year. Following a sudden drop on October 10th, the value fell to $0.0000085. That marked the year’s lowest point so far. Investors now worry about this added zero in the price structure. It signals deeper issues in the token’s performance.

Efforts to Recover the Momentum

The SHIB memecoin seems to be picking up the momentum lately. And the coin climbed 1.39% over the past 24 hours and at press time, right now, the coin trades at around $0.00001021. The coin may break through the $0.00001 level remains challenging. This level acts as a strong resistance in technical terms. Market watchers keep a close eye on these movements. They hope to see if the extra zero can finally disappear from the price chart.

Shiba Inu
Source: TradingView

Also Read: Shiba Inu’s 9M% Challenge: Can It Survive the Surge?

A positive shift still seems possible in the current setup. If buyers return in large numbers towards the coin, Shiba Inu might break through that ceiling at $0.00001.

SHIB
Source: Token Metrics

From there, the potential levels may reach $0.0000113 and $0.0000128. On the other side, the increased selling pressure of the coin could also lower the price again. The key support levels of the coin sits at $0.0000092 and $0.0000085.

Also Read: Shiba Inu (SHIB) Testing Critical Support: Will It Surge to $0.00002350?

Wrapping It Up

SHIB’s price may rise to levels of $0.0000113 or potentially reach $0.0000128 in the near term. If selling pressure increases, it could drag the value of the coin down again very quickly. Also, the support levels sits at $0.0000092 and $0.0000085.

Source: CoinMarketCap

Yet, if the threshold holds firm, the downside risks may grow more. The crypto space keeps changing, and signals of a real shift will matter a great deal. Investors stay alert for whatever comes next in this  evolving story.

Also Read: Shiba Inu (SHIB) Rebounds 4.71%, Aims for $0.00002350 Breakout Zone

Ananthyka J

Ananthyka J

Ananthyka J is a market reporter at Tronweekly, reporting on cryptocurrency news. She covers cryptocurrency markets, blockchain technology, and digital asset regulation, focusing on Bitcoin, Ethereum, DeFi, altcoins, and crypto policy. Her reporting emphasizes clear and accurate market coverage, including crypto market movements, regulatory developments, and blockchain adoption. She holds a BA in Journalism and Mass Communication and an MA in Communication and Media Studies. She has also completed multiple media internships, follows strict editorial and fact-checking standards, and discloses potential conflicts of interest when reporting.

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