IOTA (IOT) is experiencing a 1.5% decline this week, with its value dropping to $0.2330. Despite efforts, the token couldn't surpass the resistance at $0.250 and regressed to $0.2300. There's a possibility it could further decrease to $0.2000, although its ability to sustain above this level is crucial for any potential upward movement.

Investors are showing some disappointment due to the deteriorating ecosystem of the project, particularly with the significant decline of assets in ShimmerEVM. The Total Value Locked (TVL) has seen a notable drop, plummeting from $13.9 million in 2023 to $3.6 million currently.