Shiba Inu (SHIB) could dive by 30% before finding support (analyst)

Tl; DR

• According to Ali Martinez, Shib could find support at $ 0.00,00094.

• However, an escape greater than 0.00001461 could trigger a bullish momentum and a price rally of 230%.

The free fall of Shib could stop here

The part of the same part has undergone painful losses after the whole cryptography market crash In the past few days. The second largest asset of this type – Shiba Inu (Shib) – was among the least affected, its price falling by 16% per week and 10% per day.

Its market capitalization plunged below $ 7.7 billion, which means that the asset is now outside the Crypto Top 20 club. As expected, the downward trend has negatively affected SHIB investors. According to intotheblock data, the share of people seated at paper loss crowded after 60%.

A touching person On the recent performance of SHIB was Ali Martinez. The analyst assumed Whether the price of the meme part could decrease to $ 0.000012 or $ 0.0000094 before finding support. The second level represents a 30% drop in the current rate.

Another participant in the industry who thwarted the question was the PRESIME PLOI signals of the User X. They foreseen A bullish momentum if Shib exceeds $ 0.0000,1461. The analyst predicted that the recovery of the objective could lead to a price rally at $ 0.00004401 (an increase of 230% compared to continuous evaluation).

No more pain to come?

Two important The factors point out that Shib bears may continue to prevail in the short term. The first is the reduced shibarium activity.

At the beginning of the month, the layer 2 Shibiba Inu scaling solution, several million people transactions on a daily scale, but in recent weeks, this figure has shrink substantially.

This suggests a decrease in interest in network applications, such as decentralized finance (DEFI), NFT projects or game platforms. For his part, this could reduce the demand for shib tokens and reduce the purchase pressure.

The following factor is the shiba inu burning mechanism. The burning rate has abandoned 16% in the past 24 hours, which has resulted in about 25 million tokens sent to a zero address.

The ultimate objective of the program is to reduce the enormous supply of SHIB, possibly Make the asset more precious via rarity. However, advanced progress could hamper this mission.