Shiba Inu (SHIB) Price Continues to Face Difficulty Maintaining Crucial Support Levels

The Shiba Inu price continues to face difficulty in maintaining crucial support levels and there is a risk of the asset crashing.

The crypto market has seen better days, with Shiba Inu struggling to maintain crucial support levels and risk of crashing looms.

Shiba Inu Price Remains in Critical Support

Shiba Inu price continues to face difficulty in maintaining crucial support levels and there is a risk of the asset crashing. Experts believe the bearish scenario will continue with SHIB, and the meme coin might add another zero to its current price of $0.0000133. In other altcoin news, Litecoin has crashed 12% as the crypto market bleeds.

The Shiba Inu price decline shows faith in the meme coin sector, which is at a record low. Investors are tired of meme coins’ speculative nature and volatility and are more attracted by utility-based tokens that solve a real-world problem. DTX Exchange powers such a token with immense utility within the DTX ecosystem, proving to be an excellent investment.

Shiba Inu Price Drop: Meme Coin Sector Under Pressure

SHIB has been trading in red for the last 30 days and the SHIB downtrend shows no signs of a reversal. Analysts are trying to assess potential reversals, but technical reports only show further declines in the Shiba Inu price. SHIB also continues its burning process, reducing the overall supply of the SHIB token, and the burn rate has spiked to 1300%.

The resulting scarcity should push the SHIB price up, but the Shiba Inu price performance depends on investor confidence in the meme coin sector, which is at a record low. The reduction in SHIB supply should ideally create future price appreciation, but demand needs to be strong.

Currently, there is heightened volatility in the Shiba Inu price, it is testing support at $0.0000139 and will face resistance at $0.00001455. The downward trajectory aligns with the broader crypto market, and selling pressure on SHIB is increasing as investors lose faith. The Shiba Inu price might soon touch the psychological level of $00.00001.

Litecoin Price and Market Cap Takes Major Hit

Litecoin crashed 12% in one day, and its market cap fell to $8.76B. The entire crypto market is getting wrecked, and LTC has decided to follow suit. Even Bitcoin is down 23% this month, but amidst the chaos, Litecoin has shown some resilience. LTC fell to $106 three days ago, but bounced back 20%. Experts believe the Litecoin price has taken a hit in the last 24 hours but generally performs better than many other cryptos.

Litecoin is at $119 at the time of writing, and if it manages to close at $133, it could reach its highest price in two months. $140 has been a consistent hurdle, but if Litecoin can regain momentum, it could be touching new highs soon.

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DTX Exchange also offers a non-custodial universal digital wallet. The Phoenix wallet has seen over 600,000 downloads and will also support wallet-based trading. DTX users can trade directly from their wallets, which will help financial inclusion as you do not need a traditional bank account.

The DTX Exchange presale is about to end, and savvy investors flock to the presale before the current price of the token doubles when it is listed on Binance or Coinbase. The DTX token is expected to appreciate exponentially because of its utility, and investors are invited to take advantage of the affordable buy-in.

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