In recent days, the Shiba Inu Coin (SHIB) price was trying to return around 0.01 thousandths of a dollar.
However, starting from yesterday, a decrease has been triggered, bringing it back around 0.008 thousandths.
Something similar had already happened at the end of June, although the recent attempt seemed more solid.
At the end of June, in only one week, it went from 0.005 thousandths to 0.008, and then it started a growth path that lasted about one month, and that would have brought it back just above 0.005 thousandths.
Starting on August 7, a growth that seemed to be more solid was triggered, with an initial rise to above 0.008 thousandths, followed by a brief descent and lateralization of almost a week around this threshold. On August 16 began the attempt to approach 0.01 thousandths; however, it failed yesterday, with the return always more or less around 0.008.
It should be noted that it is since June 3 that the 0.01 thousandths level has not been reached, and the current price is still 78% lower than the historical peak recorded only on May 10.
Despite that, the price increase compared to 12 months ago is still a stratospheric 4,800,000%.
Analysts’ forecasts on the price of the Shiba Inu coin
The curious thing is that several analysts, after the growth of the day before yesterday, suspected that the price could grow again and finally exceed the psychological threshold of 0.01 thousandths of a dollar again. Still, the decline triggered yesterday on the cryptocurrency markets has blown these hypotheses.
However, this threshold always remains the target in the short term because it is not sure that there will be others after the failure of this first attempt.
The Shiba Inu community still seems decidedly active, so much so that last week new NFTs were launched on OpenSea, specifically for a collection of cards called Shiba KriptoKards.
According to some analysts, the support would currently be positioned at 0.0081 thousandths of a dollar, with the first resistance at 0.0091 and a second one at 0.0098.
The post Shiba Inu: failed attempt of the coin to return to 0,00001$ appeared first on The Cryptonomist.
