SHIB Price Trends Toward $0.00000666, Level Traders Call 'Mark of the Beast'

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News Full stop for recovery It is not that simple Advertisement Shiba Inu's recent price action indicates that the asset is returning to the $0.00000666 region following a brief recovery attempt that was unable to create long-term upward momentum. After recovering from recent lows, the token looked to be stabilizing for a short while, but fresh selling pressure soon put SHIB back in a precarious position, making traders wary of what might happen next. Advertisement Full stop for recovery The most recent drop, which quickly erased about 9% of SHIB's value, essentially made it impossible for a longer-term reversal to form. The price had started reclaiming moving averages and testing short-term resistance levels prior to the decline, indicating a possible change in momentum. But the sell-off that followed the rejection close to those resistance points shows that bearish pressure is still predominant over longer time periods. SHIB/USDT Chart by TradingView SHIB is still trading below important trend indicators from a technical perspective, and volume spikes during red sessions indicate that sellers are still in control of the overall direction. The idea that the current rebound phase is more corrective than transformative has been strengthened by the repeated failures of attempts to create higher lows. HOT Stories 50 Million XRPs Sold in Less Than 24 Hours Crypto Market Review: XRP Breaks 26 EMA, Ethereum (ETH) Forms Micro-Double Top, Shiba Inu (SHIB) Extends Gains to 25% It is not that simple Because of its name and close alignment with recent support zones, traders have taken notice of the $0.00000666 region's psychological significance. Market players will be closely observing if SHIB returns to this level to see if buyers intervene forcefully or if support eventually gives way, creating space for another leg down. Advertisement Now the focus for investors is on risk management and patience. SHIB may be able to stabilize and possibly try another recovery toward short-term resistance zones if the current support is cleanly defended. Failure to hold, however, would probably prolong the general downward trend and drive the token into further retracement territory. As market participants determine whether meme assets continue to pique speculative interest in the current climate, volatility is predicted to stay high, and price action may remain choppy in the near future. Traders are primarily focused on short-term opportunities rather than long-term recovery prospects until SHIB can recover and hold above important moving averages, limiting expectations for a sustained bullish reversal. #Shiba Inu #Shiba Inu (SHIB) Price Prediction