Shiba Inu (SHIB) is Currently Trading at $0.00001166, a 5.0% Loss in the Past 24 Hours

This dip comes as the broader crypto market experiences turbulence. Despite the decline, the project's team remains confident, emphasizing its long-term vision and ecosystem growth.

Shiba Inu (CRYPTO: SHIB) is currently trading at $0.00001166, showing a 5.0% decrease over the past 24 hours. This يأتي as the broader crypto market experiences turbulence.

What Happened: As broader crypto markets dealt with some weakness, SHIB is now testing the key $0.0000115 support, which is the price floor of a large buy order seen on exchanges like Binance.

"SHIB is our Bitcoin. Stay strong, and we'll keep delivering. #ShibaInu," said Shiba Inu's marketing lead, Lucie, in a recent tweet.

Shiba Inu (SHIB) is now testing the key $0.0000115 support, which is the price floor of a large buy order.

Shiba Inu is known for its vast ecosystem, which includes additional tokens like BONE, TREAT, LEASH, and a metaverse project. The team is developing Shibarium, a Layer 2 blockchain designed to improve scalability and lower transaction fees.

"We are focused on the LONG TERM vision, not short-term price fluctuations. Our development efforts continue, further solidifying Shiba Inu's position in the crypto market," added Lucie.

Shiba Inu has been encountering difficulties as broader cryptocurrency markets faced significant pressure.

"The decline is due to political uncertainty and market manipulation, not any weakness in the project. We are working hard to navigate these challenges and ensure the long-term success of Shiba Inu," said Lucie.

Shiba Inu's Price Movement: According to data from Benzinga Pro, SHIB is trading at $0.00001166, showing a 5.0% decrease over the past 24 hours. At the time of writing, SHIB is getting close to completing a "falling wedge" pattern, a technical indicator that often signals an upcoming price rebound.

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Shiba Inu is also approaching the key $0.0000115 support level, which is the price floor of a large buy order that was placed on Binance and can be viewed on charts.

The token's trading volume has surged by more than 50% in the past 24 hours, reaching $487.68 million, as investor interest intensifies.

Shiba Inu's Impact: Shiba Inu has become an increasingly popular cryptocurrency, and its price movements have a significant impact on investors.

As one of the most widely discussed and followed tokens, especially on social media platforms, interest in SHIB remains high.

Shiba Inu's price has decreased by 29% over the past month, but technical indicators suggest that the token could be due for a recovery.

With a strong buying wall established at $0.0000115 and high trading volume, Shiba Inu is showing resilience despite the broader crypto market downturn.