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Shiba Inu Hits $0.00002 as Market Sell-off Escalates: Possible Scenarios
The cryptocurrency market has been experiencing a sell-off in recent days, with many assets plummeting in value. Shiba Inu (SHIB) is no exception, having dropped to around $0.00002. In this article, we’ll explore possible scenarios for the SHIB price action moving forward.
As of January 15, 2025, SHIB has been trading within a narrow range between $0.000016 and $0.000026, with a current value of approximately $0.00002. This zone is supported by strong daily volume levels and may act as a barrier to further declines. Market participants should be cautious when considering potential selling points around this level.
The possibility of SHIB extending its range trading within the 50 and 200-day moving averages at $0.00002499 and $0.00001895, respectively, cannot be ruled out. This scenario would result in a temporary consolidation phase before potentially breaking higher or lower.
While predicting the exact trajectory of cryptocurrency prices is challenging, it’s crucial for traders to stay informed about market trends and potential scenarios.
Source: u.today
