Shiba Inu (SHIB) price crashes to 7-day low as bearish momentum grows

The Shiba Inu (SHIB) price has tumbled to its lowest level in a week, dropping 15% amid broader market uncertainty.

Trading at $0.0000116, the meme coin faces mounting pressure as geopolitical tensions and risk-averse investor behavior weigh on sentiment. With critical support levels in sight, traders are questioning whether Shiba Inu (SHIB) price can recover before the quarter closes.

Bearish signals flash as SHIB slides further

The Shiba Inu (SHIB) price decline isn’t just a blip—technical indicators suggest deeper trouble ahead. The BBTrend indicator, which tracks momentum using Bollinger Bands, has remained red for 13 consecutive days, signaling sustained selling pressure.

According to TradingView, the Elder-Ray Index, a measure of buying vs. selling strength, sits deep in negative territory at -0.0000011. Historically, such readings precede extended downtrends, raising concerns that the Shiba Inu’s (SHIB) price could fall further before stabilizing.

Critical support level: Make or break for SHIB

All eyes are now on the $0.0000102 support zone—a level last tested in April. If the Shiba Inu (SHIB) price fails to hold here, analysts warn of a drop toward $0.00000939, a 20% decline from current levels.

However, not all hope is lost. A rebound in Bitcoin or renewed meme coin hype could reignite demand. In such a scenario, Shiba Inu’s (SHIB) price might target $0.0000122, offering a potential 5% upside for traders betting on a turnaround.

Why SHIB’s volatility isn’t surprising

As a meme coin, the Shiba Inu (SHIB) price is inherently volatile. Unlike utility-driven altcoins, its value often hinges on social media trends and speculative trading. Recent whale activity—large holders moving tokens to exchanges—hints at further downside risk.

Yet, SHIB’s community remains fiercely loyal. Developer updates, like Shibarium’s scaling solutions, could eventually bolster Shiba Inu’s (SHIB) price by improving transaction efficiency and burn mechanisms.

The road ahead for Shiba Inu

With Q2 ending soon, the Shiba Inu (SHIB) price sits at a crossroads. Market-wide recovery or a breakout above $0.0000122 could shift the narrative. But if global uncertainty persists, SHIB may linger near its 2025 lows.

For now, traders should watch Bitcoin’s movement and SHIB’s trading volume for clues. One thing’s certain: the Shiba Inu (SHIB) price will remain a high-stakes rollercoaster, typical of the meme coin arena.

Key points:

• Shiba Inu’s (SHIB) price dropped 15% in a week, testing key support at $0.0000102.

• Bearish technical indicators suggest further declines unless bulls intervene.

• A rebound to $0.0000122 is possible if market sentiment improves.