Shiba Inu Is Deteriorating
Shiba Inu (SHIB) is adding 4.5% to $0.0000132 this week, outperforming the broader crypto market where Bitcoin (BTC) is up 2.8% to $109,224. Still, SHIB remains at extremely low price levels, underlining its relative weakness despite generally positive market sentiment. Even a 4.5% gain appears insufficient in this context.
The project has produced several positive developments, including a collaboration with the United Arab Emirates and a growing number of Shiba Inu wallets. Yet, there’s been no meaningful price momentum. After falling to $0.0000100 in April, SHIB rebounded 72% to $0.0000175 but failed to break through the key resistance at $0.0000200. Since then, it has pulled back to $0.0000119.
Even optimistic messaging from the project’s marketing team has done little to lift the mood. The price remains in a sideways to bearish structure. Until SHIB decisively breaks above the $0.0000200 resistance level, other assets may offer better opportunities for upside.
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