Is Shiba-Inu Going Down? The Hype Around Shibaswap Ain’t Working For the Prices!

Both crypto traders and investors are concerned about the current state of the crypto market. SHIB desperately requires institutional backing to survive in this environment for a longer period of time, as the community and sentiments are proving insufficient. 

The entire crypto market, on the other hand, was on the edge of collapse before hitting reverse. SHIB, called the “Doge Killer” in allusion to the now-defunct currency Dogecoin, has recently undergone fast market growth, reaching an all-time high. In addition, the volume of Shiba Inu that has recently been exchanged is slowly increasing.

ShibaSwap, a fast-rising DeFi platform that locked in $1.5 billion in total locked value in just two days after introduction, is one of the platform’s most significant developments. The coin, on the other hand, did not experience any bullish movement following its debut. 

While investors were anticipating a significant increase in its value. When they revealed three additional ShibaSwap pairs, it increased by 20%. ETH-USDT, LEASH-BONE, and SHIBA-BONE have all been added.


In the last several days, Shiba Inu’s volatility has been at an all-time high. SHIB Price is now in a bearish trend, which could continue this week. If the downturn continues, SHIB might drop as low as $0.000006, retesting lower support at $0.0000055. Despite this, the SHIB token has risen to $0000065, which is around 15% higher than its lowest point this week.

The price of the Shiba Inu is sitting just above two key support levels: $0.00000654 and $0.00000625. 

If these levels are breached, the altcoin may be forced to retest the range bottom of $0.00000520. The resistance levels on the upside are $0.00000827, $0.00001018, and $0.00001135. 

While SHIB supporters and the community await a breakout, it will be intriguing to observe which path Shiba Inu’s price will take, especially with Bitcoin Price exhibiting upward momentum.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Will Cardano Price Be Affected by Elrond Upgrades? ELGD Price Set to Hit $500!

The crypto space is undergoing extreme volatility as the market lost nearly $150 billion. And…

57 mins ago

Will Bitcoin Price rally in Q4? Experts and Analysts Say Yes!

The crypto market underwent a severe fall in September after a good bull run in…

1 hour ago

FortKnoxster(FKX) Blockchain Messenger- The Next Telegram

Why Fortknoxster will be the most successful messaging app based on blockchain technology! FortKnoxster, the…

3 hours ago

Swap, Stake, And Yield Farm With ChilliSwap

Decentralized exchanges act as traditional banks and ATMs for cryptocurrencies with better security, faster transactions,…

3 hours ago

Cardano Price could hit fresh highs! ADA Price to Hit $4 Says deVere Group CEO Nigel Green

The broader cryptocurrency market seems to be clearing out weak hands as the turn down…

4 hours ago

Solana Price To Hit Back Harder Above $150 In The Next 7 Days

Solana price after the mesmerizing rally above $215, shed almost half of its gains within…

4 hours ago