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Shiba Inu Price Under Tremendous Pressure, What If Daily Close Is Below $0.000007

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Highlights

    SHIB price is trying to settle below $0.000007 as the assets remains under immense heat from the bears

    In case of the daily close dropping significantly, the price may yet add up one more zero rather than killing

Shiba Inu price is undergoing parabolic yet in the reverse order and could hit much lower levels with the continued streak. The bulls had gained the upper hand in the previous trading day as the SHIB price managed to surge more than 13%. But the bears took the control back and pulled down the price by 10%.

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The price is currently on a very crucial edge as a further plunge from here may lead the price towards the lower support levels below $0.000006 or even $0.00000450. No doubt the immediate support levels are around $0.00000675, yet they sound to be weak to sustain. And hence a dip towards $0.00000551 can be imminent. 

Also Read:Shiba Inu Price : Shiba Inu virtual Party on July 20? Will this Lead to SHIB Price Breakout?

shibdescending
Source: www.digitalcoinprice.com

Currently, it is mandatory for the bulls to uplift the price so that it breaks the descending channel. Despite a couple of attempts, the price failed to sustain the uptrend and hence it indicates the bulls are not still stronger to do so. Additionally, the volume also is not appealing which is required for a substantial surge.

The Shiba Inu price stands at $0.00000690 with a drop of 2.98% needs to have a daily close above $0.0000700. And hence mark the beginning of a considerable recovery. Else the downtrend could drop the SHIB price to strong support levels within no time.

Also Read: Cardano Price To Offer A Buy Signal Soon, Good Time To Stack Up!

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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