Shiba Inu Down 11% in the Last 7 Days; Can SHIB Erase Another Zero?

Shiba Inu Down 11% in the Last 7 Days; Can SHIB Erase Another Zero?

Over the previous week, the price of Shiba Inu (SHIB) has decreased as the value of cryptocurrencies decreased. Data from Coinmarketcap shows that SHIB’s price has reduced by 11% during the past week. Shiba Inu’s worth is mainly deteriorating due to investors’ growing pessimism.

As each month passes, thousands of investors desire Shiba Inu’s price to increase and its “zeroes” to decrease. SHIB, on the other hand, is moving in the other direction and increasing its value by “zeroes.” 

Shiba Inu traded with four “zeroes” last month, but it dropped by almost 25% over the previous 30 days. In May, its price increased by yet another “zero,” and it currently trades at $0.0000089 in the indices.

Related Reading: Holders Now Swapping Shiba Inu for Pepe Coin. Is This The Right Thing to Do?

Shiba Inu Price Movement

The Shiba Inu ecosystem has recently seen some Improvements; however, the price has decreased recently. The price of the Shiba Inu began at $0.0000100 and had been falling over the last seven days. The price has fluctuated over the past few days, and it is now worth $0.0000089. This represents a decrease of 11% in just one week.

Shiba Inu is down 11% in the last 7 days. Source: Coinmarketcap

With a $140,301,135 24-hour trading volume. In the last 24 hours, Shiba Inu has decreased by 5.21%. 

Shiba Inu is down 5.21% in 24 hours. Source: Coinmarketcap

When will SHIB Delete Its Next Zero?

The immediate objective of SHIB, which is currently trading with five “zeroes,” is to remove the “zero” and return to its prior levels of $0.00001. Even so, SHIB was able to erase the “zero” in early January 2023, but that same month, the price sank once more to $0.000009.

A few days later, the token removed the “zero,” returning to its previous levels of $0.00001. SHIB remained stable for three months until collapsing once more to five “zeroes” in May.

However, given that the cryptocurrency has already recovered twice, it might not take long for SHIB to delete its fifth “zero.” Additionally, SHIB experiences buying pressure whenever its price declines as investors acquire it to increase their token holdings. So in May or June 2023, Shiba Inu might get to delete its fifth “zero.” again.

Read Also: Shibarium Updates for Shiba Inu in May 2023

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