Shiba Inu is having difficulty maintaining critical support levels, putting the asset at risk of a catastrophic breakdown. SHIB is now trading at $0.00001326, having dropped more than 6% in the last day, raising the possibility that its price will drop by another zero. The meme coin has recently come closer to a major bearish scenario after failing to maintain momentum during an attempt at a breakout.
The most recent price movement for SHIB indicates that bearish pressure is still present as it tried to break through a descending trendline but was quickly rejected. Due to the rejection, SHIB is now once again on a downward trajectory, and selling pressure is getting stronger as investors lose faith in a quick recovery. A further decline is now more likely because SHIB is lingering close to important support.
The psychological level of $0.00001000 may soon be reached if the asset falls below $0.00001200, essentially adding another zero to its price. A major psychological shift for investors could occur if SHIB keeps declining and breaks below the $0.00001200 support, which would cause it to drop rapidly toward $0.00001000.
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This would deepen the asset’s negative sentiment and prolong the bearish trend. If SHIB finds short-term support at $0.00001250-$0.00001300, it might go into a consolidation phase and stabilize before trying to break resistance once more. This situation would give accumulation time, which could eventually result in a reversal. SHIB is able to maintain its current level and recover $0.00001500 in the best-case scenario.
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Invalidating the bearish outlook and putting SHIB on a trajectory toward $0.00001700 or higher would be a breakout above the descending trendline. The growing selling pressure and SHIB’s inability to overcome resistance point to a possible continuation of the decline. If bulls do not intervene to protect support levels, SHIB runs the risk of falling even lower and hitting a zero, which would have a major effect on investor sentiment.
Source: https://u.today/shiba-inu-shib-risks-adding-zero-to-its-price-after-this-move