<a href="https://coinmarketcap.com/currencies/shiba-inu/" target="_blank" rel="nofollow noopener">Shiba Inu</a> (SHIB) is trading at $0.00001214 at the time of writing. The price of SHIB has declined by 26.67% in the past 24 hours. The 24 hours minimum and maximum prices of Shiba Inu presently are $0.00001124 and $0.00001637, respectively. SHIB might get to a major key level soon with this present rate of decline.

Consequently, this could push Shiba Inu (SHIB) closer to its 52-week low price of $0.00000516. SHIB could reach the following outcomes at a support level of around $0.000008:
<ul>
 	<li>An increase in sales by retail investors</li>
 	<li>Increased buying pressure by Whales</li>
 	<li>Consolidating market</li>
</ul>
<h3>An Increase in Sales by Retail Investors</h3>
The decline in the price of Shiba Inu (SHIB) has been particularly hard on retail investors, who tend to cash out every little gain they make. The present decrease in the price of SHIB could further plummet if the current fear and greed index value does not change from its extreme condition before SHIB attains the $0.000008 support level. SHIB's short-term investors' quest to prevent further dips in their investment value will cause its drop.
<h3>Increased Buying Pressure by Whales</h3>
Shiba Inu <a href="https://www.cryptoknowmics.com/news/2-trillion-shiba-inu-whales-grab-9-million-in-ape-report/" target="_blank" rel="noopener">whales</a> might pump more funds into the market to restore confidence and prevent further dips. SHIB might regain some of its recently lost psychological strength by doing this. With this, the price of Shiba Inu could surge since the SHIB community could contribute more to its burning after buying at a lower price.
<h3>Consolidating Market</h3>
Buyers and sellers might want to observe its trend before making their next investment decision. So, at about the $0.000008 support level, the market consolidation could last for some days. Depending on the market forces then take charge, the price could fall further away from $0.000008 or increase above $0.00001.
<h3>Conclusion</h3>
The patience of long-term investors allows them to recover from market declines or even during returns when the market is bullish. Hence, short-term investors should consider selling at the current price of SHIB before it falls further.

What to Expect When Shiba (SHIB) Hits $0.000008

What to expect when Shiba Inu (SHIB) hits $0.000008? Is there an increase in sales by retail investors and a consolidating market? Let's find out.

Chukwuemeka Raphael is an author and cryptocurrency news writer/analyst. As a Mathematics graduate and trained analyst, he combines his Math knowledge and strong reading culture in contributing content and analysis for the development of cryptocurrency and blockchain space.

What to Expect When Shiba (SHIB) Hits $0.000008

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