Shiba Inu (SHIB) Has Dropped Over 22% in the Past Two Weeks. Without Bullish Intervention, the Price Could Face an Additional 20% Decline.

Shiba Inu (SHIB), a cryptocurrency that has gained popularity as a meme, has seen its price plummet for the past two weeks straight.

The price of Shiba Inu (SHIB) has decreased by more than 22% over the last two weeks. The price might decrease by an additional 20% without bullish intervention.

Shiba Inu (SHIB), a cryptocurrency that is well-liked as a meme coin, has seen its value decline for the past two weeks running.

According to U.Today, there was a brief upswing in the price of SHIB, more precisely a rebound, in the middle of July. However, at the critical threshold of $0.0000183, it was unable to break above it, and on July 22, its decline began.

Since then, the value of one Shiba Inu token has decreased to $0.0000142, a loss of over 22%. However, this might not be the last chapter; the SHIB price could encounter an even greater decline if bulls do not act immediately to protect the beloved meme coin.

Critical Support Levels for SHIB

On the one hand, the price chart for the Shiba Inu token currently shows that it is resting at a fairly substantial support level; on the other hand, there have been other instances in the price history of the popular meme cryptocurrency where the token's value has dropped. In these situations, the $0.000011 price level was frequently the next target.

August Might Be a Turning Point

There is currently no definitive solution. However, there are a number of standards we may look at, like the August SHIB price history. Thus, in its brief history, Shiba Inu finished the last month of summer on a positive note in August, according to historical statistics.

Another metric might be data on the concentration of tokens in the surrounding price zones. As an illustration, the current price of SHIB is $0.000014, and there are 38.1 trillion tokens concentrated within that radius.

High Token Concentration Risk

Although this does offer strong support, it also raises the possibility that the current volume might become a sell wall.

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