Will Shiba Inu Drop Below $0.000012, See 28% Decline?

Crypto analysts have identified crucial support levels that suggest the SHIB token may plunge to lower prices.

Shiba Inu (SHIB) price dropped to 1.43% in one day to reach $0.00001358.

The recent market movement joins the existing losses which include a February reduction of 32% and a 50% drop in the last three months.

Shiba Inu Struggles Near $0.000013, Key Support at $0.000012

Notably, the cryptocurrency market has faced a prolonged correction, with SHIB struggling to maintain stability.

SHIB token maintains its lowest value since September 2024 by trading at $0.000013.

Experts have identified $0.000012 as a fundamental support level within an unpredictable market scenario.

According to Crypto analyst Ali Martinez, Shiba Inu price movements demonstrate compliance with Fibonacci retracement levels.

An analysis by the trader indicates that SHIB will encounter possible price declines down to $0.000012 if it fails to consolidate its present standing.

The 0.618 Fibonacci retracement stands as a vital monitoring point for traders because the price often reverses near this level.

However, SHIB might extend its downturn as long as bearish sentiment continues in the market.

Crucial Level if Bears Extend the Decline

More so, Martinez noted that further market deterioration could cause SHIB to reach this essential price point.

A price drop below $0.000012 could lead to a potential decline which would reach $0.0000094.

An additional 28% decline could occur since $0.0000094 matches the 0.786 Fibonacci retracement level.

Shiba Inu price has dropped due to market-wide negative pressure while Bitcoin price resets to 2024 lows below $90,000.

The extended bear market affects all cryptocurrencies including SHIB and makes it prone to further depreciation.

Strong selling activity could push SHIB past any potential points of support until it reaches the $0.0000094 price target.

The historical price movement of SHIB has demonstrated resistance near $0.000018 to $0.000023.

SHIB has not overcome this resistant zone which triggered an ongoing downward trend.

Investors are intensely monitoring essential boundaries to evaluate whether SHIB will find stability or keep descending.

Analyst Signals a Rebound, Targeting $0.00002941

On the other hand, experts suggest the Shiba Inu price might bounce back despite current risk factors.

The experts outlined a possible rebound scenario in which SHIB could regain lost ground.

The analysts predict that SHIB will start its recovery path by aiming for $0.00002941 when it establishes a solid support level.

The anticipated targets for a bullish market movement include resistances at $0.00003738 and $0.00004401 according to projected market conditions.

The upward trend will strengthen only after SHIB successfully returns to $0.000022.

The recovery potential of SHIB depends heavily on its success in maintaining its significant support points.