Here’s Why Fears of Shiba Inu (SHIB) Price Adding a Fifth Zero Are Fading

Shiba Inu price has managed to steady itself after a shaky stretch that almost dragged the token into new lows. On August 25, SHIB slipped to $0.00001188, its weakest point in two weeks, sparking fresh concerns that it could fall below the $0.00001 level. 

A breakdown there would have added a fifth zero to the price, something the token has avoided since February 2024.

Instead of collapsing further, SHIB price found support and bounced back. At writing, it trades near $0.00001250, and is down 1% in the past day. However, it is showing a modest improvement this week. 

Technical indicators also point to stabilization. The Relative Strength Index has recovered to a neutral 47 after dipping into oversold territory, while the token has climbed back above its short-term moving average, easing some of the selling pressure that weighed it down earlier in the week.

Another factor supporting SHIB price has been large-scale accumulation. In the past three days, one whale withdrew over 204 billion SHIB from Coinbase, spread across 14 transactions. 

Most of those were transfers of more than 15 billion tokens each. Moves like this tend to boost confidence in the market, as smaller investors often see whale buying as a signal that big players are betting on strength rather than weakness.

For Shiba Inu holders, the $0.00001 threshold remains a key line in the sand. The token has flirted with that level several times this year, most recently in June when it dropped to $0.00001010, but each time it has managed to hold.

The last time SHIB price actually traded with five zeros was back in February 2024, more than a year ago, and avoiding that scenario again is seen as an important psychological win for the community.

With whales showing confidence and technicals improving, Shiba Inu price has managed to quiet some of the panic that built up during last week’s sell-off. For now, the fears of adding a fifth zero have faded, giving holders a bit of breathing room as September trading begins.

Read Also: Bullish Metrics Keep Aligning for SUI: Analyst Says Hitting Double Digits Is Inevitable

Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.

intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Boluwatife Afe
Boluwatife Afe

Boluwatife is a dedicated content strategist specializing in the crypto industry and is passionate about blockchain technology and digital currencies. With a keen eye for emerging trends and a talent for making complex topics accessible, Boluwatife aims to educate and inspire the crypto community through engaging and insightful content.

CaptainAltcoin
Logo