Shiba Inu While the price continues to show some signs that could strengthen the uptrend, the community continues to believe that it could erase another zero. If SHIB can break one zero from its current price of $0.000007895, this will be interpreted as a concrete step towards the expected $0.1 level. As a matter of fact, to erase a zero, the price must rise by at least 25%.
Shiba Inu often makes moves to erase a zero from his home, although not as much as the crazy performances he showed in the past. The peak price of $0.00008845 continues to be considered a possible potential level. However, SHIB has been showing erratic price movements for some time now and has lost over 90% of its value since its peak price. Meme coin, which has not done well in terms of transaction volume, seems to be a little far from its shining days.
Low trading volume can be interpreted as buying sentiment that could keep prices down. When users do not make purchases, the possibility of price recovery in the long term becomes weaker. On the other hand, more visionary investors may consider this negative benchmark as a basis for a gradual breakout in price.
Low buying pressure accompanied by prolonged periods of price suppression is an entry point for investors who think the worst is over. This second feeling shows itself more clearly these days, when the Shiba Inu price increased by 1.98% to $ 0.000007879. The token’s market value also showed signs of recovery, rising with a similar increase to $4,644,702,487.
SHIBA number of internal and external factors need to come together in order for it to continue its upward trend. Current Bitcoin spot ETF sentiment in the United States has emerged as the industry’s main theme for October. With rumors of BlackRock’s approval, the market has gained momentum, led by Bitcoin, with significant impacts on altcoins such as SHIB.
As Koinfinans.com reported, speculation that the SEC will approve the product in the coming months continues to grow, with some categorically predicting it to be unveiled this year. According to predictions, the actual approval of the Bitcoin ETF could trigger the next bull run, favoring the Shiba Inu.