What to Expect When Shiba (SHIB) Hits $0.000008

Consequently, this could push Shiba Inu (SHIB) closer to its 52-week low price of $0.00000516. SHIB could reach the following outcomes at a support level of around $0.000008:

An Increase in Sales by Retail Investors

The decline in the price of Shiba Inu (SHIB) has been particularly hard on retail investors, who tend to cash out every little gain they make. The present decrease in the price of SHIB could further plummet if the current fear and greed index value does not change from its extreme condition before SHIB attains the $0.000008 support level. SHIB's short-term investors' quest to prevent further dips in their investment value will cause its drop.

Increased Buying Pressure by Whales

Shiba Inu whales might pump more funds into the market to restore confidence and prevent further dips. SHIB might regain some of its recently lost psychological strength by doing this. With this, the price of Shiba Inu could surge since the SHIB community could contribute more to its burning after buying at a lower price.

Consolidating Market

Buyers and sellers might want to observe its trend before making their next investment decision. So, at about the $0.000008 support level, the market consolidation could last for some days. Depending on the market forces then take charge, the price could fall further away from $0.000008 or increase above $0.00001.

Conclusion

The patience of long-term investors allows them to recover from market declines or even during returns when the market is bullish. Hence, short-term investors should consider selling at the current price of SHIB before it falls further.