Shiba Inu is currently trading at $0.000007297, down on both daily and weekly time frames. The dog coin is not only down 2.9% in the last 24 hours, but down 10.88% weekly and down 68.2% on a one-year basis.
Shiba Inu price presently has five zeros immediately after the decimal point; this was not the case months back.
Shiba Inu opened the year 2025 at $0.00002113, with four zeros in its price tag, and sustained this trend for nine months of this year, trading above $0.00001 even amid price corrections in May and June.
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Fast forward to October, when the crypto market saw record liquidations with nearly $20 billion wiped out in leveraged positions during the Oct. 10 flash crash event. Shiba Inu could not hold the $0.00001 support, falling to a low of $0.0000085.
SHIB/USD Daily Chart, Courtesy: TradingView
A breach of this crucial support not only saw Shiba Inu adding a zero to its price tag, it also exposed weakness beneath.
Can Shiba Inu erase zero before 2025 end?
Erasing a zero from Shiba Inu price might not be an easy task for bulls. Following Shiba Inu's drop to a low of $0.0000085 during the Oct. 10 flash crash, buyers no doubt quickly bought the dip, but they could not push beyond $0.0000113, where a resistance was met.
Since this time, Shiba Inu has mirrored the broader weakness in the market, with sellers selling on minor rallies.
Between mid-October and November, Shiba Inu attempted multiple retests at the $0.00001 level, but could not succeed as it was met with selling. This suggests a resistance at the $0.00001 level, beyond which Shiba Inu can only erase a zero from its price tag.
Shiba Inu fell to the lower part of its current range in late November as selling pressure did not ease in the markets. The declines continued in December, with Shiba Inu reaching $0.00007 on Dec. 18, a low last seen in October 2023. Despite rebound attempts, Shiba Inu could not go beyond $0.0000095, unable to erase a zero from its price tag.
For Shiba Inu to erase a zero from its price, it must successfully breach the $0.0000095 level and then convert the $0.00001 level from resistance into support once again.
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