Shiba Inu price is undergoing parabolic yet in the reverse order and could hit much lower levels with the continued streak. The bulls had gained the upper hand in the previous trading day as the SHIB price managed to surge more than 13%. But the bears took the control back and pulled down the price by 10%.
The price is currently on a very crucial edge as a further plunge from here may lead the price towards the lower support levels below $0.000006 or even $0.00000450. No doubt the immediate support levels are around $0.00000675, yet they sound to be weak to sustain. And hence a dip towards $0.00000551 can be imminent.
Currently, it is mandatory for the bulls to uplift the price so that it breaks the descending channel. Despite a couple of attempts, the price failed to sustain the uptrend and hence it indicates the bulls are not still stronger to do so. Additionally, the volume also is not appealing which is required for a substantial surge.
The Shiba Inu price stands at $0.00000690 with a drop of 2.98% needs to have a daily close above $0.0000700. And hence mark the beginning of a considerable recovery. Else the downtrend could drop the SHIB price to strong support levels within no time.