The Shiba Inu (SHIB) chart does not leave much room for optimism. The price is currently holding at $0.00001207, but the monthly setup points directly to the lower Bollinger Band at $0.00000611. This would erase a digit from the price figure and take SHIB back to levels not seen since 2021, when the token first appeared in the crypto market’s mainstream.
Past performance shows that every bounce has been weaker than the last. Attempts to climb above $0.00002000 have been unsuccessful, and the resistance level of $0.00002800 has not been approached in over a year. Instead, trading volume has decreased, the price range has narrowed and the Bollinger Bands are indicating a potential move.
Usually, when the market moves in this way, the next expansion follows the dominant direction — and for SHIB, that still points lower.
A drop toward $0.00000611 would be more than just another sell-off. It would reset the entire meme coin narrative back to pre-mania levels.
Goodbye, SHIB?
For long-term holders, such a move would mean seeing years of community hype and development marked down to a chart position that looks like a restart. For traders, it is a reminder that meme coins offer little support once momentum fades.
Shiba Inu coin has built its brand on wild gains, community and promises of DeFi prosperity, and some will see a decline as an opportunity to buy more.
However, much of this is gone; Shytoshi’s disappearance and the Shibarium exploit are the stark proof. Thus, for now, the risk of losing a zero is real, and unless new demand emerges quickly, SHIB’s next destination may be a level that no one expected to see again in this cycle.
Source: https://u.today/shiba-inu-shib-faces-brutal-test-with-shibarium-hack-uncertainty-50-crash-in-play
