Shiba Inu (SHIB) Price Struggles: Another Zero Incoming or a Potential Rebound?
Shiba Inu (SHIB), one of the most popular meme coins, has been facing strong bearish pressure, raising concerns among investors. Despite previous attempts to regain momentum, SHIB is struggling to hold key support levels, and analysts warn that it could add another zero to its price if the downtrend continues. However, positive developments in the Shibarium network could offer a glimmer of hope.
SHIB Price Analysis: Downtrend Strengthens
Currently trading around $0.00001575, SHIB is locked in a bearish trend, failing to break past critical resistance levels. The 200-day, 100-day, and 50-day EMAs remain above the current price, reinforcing the bearish momentum.
One of the biggest concerns is the lower high formation, a pattern that indicates weakening recovery attempts. This suggests ongoing selling pressure, making it difficult for SHIB to mount a significant rebound. If the price drops below $0.00001500, the next major support levels are at $0.00001400 and $0.00001300. A failure to hold these levels could push SHIB into a prolonged bearish phase.
Shibarium: A Key Catalyst for Recovery?
Despite the negative price action, Shiba Inu’s layer-2 scaling solution, Shibarium, is nearing a major milestone—one billion transactions. This achievement highlights the protocol’s increasing adoption and utility.
• Total Transactions: 941 million (58 million away from 1 billion)
• Daily Transactions: ~4.5 million
• Total Wallets: 2.1 million
• Total Blocks: 9.4 million
Since its launch in August 2023, Shibarium has demonstrated consistent growth, improving scalability and transaction efficiency for SHIB. Analysts believe that as usage increases, demand for SHIB could rise, potentially stabilizing its price.$BTC $SHIB