Popular Meemkoin Shiba Inu is currently facing a steady decline. In the last few months Shiba Inu Value There has been a decline in and now it has reached its 6 -month low. Currently, Shib is trading on $ 0.00001512, and has seen a drop of more than 2% in the last 24 hours. If we look at the last 1 year performance of Shiba Inu, it has shown a growth of about 50%, which may be a positive signal, but this fall in short term is not a less concern.
The current status and decline of Shiba Inu
There can be many reasons behind the decline of Shiba Inu. First, despite being a popular meemkin, the entire crypto has become part of the recession in the market. The recent fluctuations in the Crypto Market have affected the prices of most tokens and Shiba Inu could not escape from it. Currently Shiba Inu is at its last 6 months low, which was on 27 October 2024 $ 0.00001524. Earlier it was trading at $ 0.00001483, and now its price has come down from that level. This decline has caused concern in the Shiba Inu community, as this decline may last a long period.
Technical indicators and potential future
From technical approach, the chart of Shiba Inu is also disturbing. Recently, its chart was moving towards the “Death Cross” pattern. Death cross is formed when a 50 -day moving average crosses 200 days of moving average from top to bottom. This is a slowdown signal, and if it is made a pattern, it may result in further decline in the price of Shiba Inu. Currently, the price of Shib has already reduced by 4.4% this week, and the death cross pattern has not yet been made. This indicates that the decline of Shiba Inu may increase further, and it may affect more investors. Please tell that in the midst of this decline, Shiba Inu Group Brandnew Rule of Invest in Shiba Inu Has released.
Possible scenario for shiba inu
There are two possible landscapes for Shiba Inu. First, the price of Shib will continue to fall and the next major support level will be at $ 0.000011, which is 26% below the current price. Second, the price of Shib can fluctuate between $ 0.000011 and $ 0.000017 and when it reaches a border, its next step will clarify the future.
Conclusion
The current situation of Shiba Inu is worrisome, but the possibilities about its future are open. If the pattern of the death cross is formed, prices may fall further, but it is also possible that SHIB has touched its lower level and now the decline is about to end. Therefore, investors should carefully monitor this situation, as the performance of Shib in the next few weeks will decide whether it is the end of the recession or more falling.
