• Shiba Inu (SHIB) has been going down and is 87.45% down from its all-time high in October 2021.
• The token is trying to validate a prior long-term descending resistance line as support.
• The company behind SHIB announced it would debut its Wagmi Temple in the coming SXSW festival.
Shiba Inu (SHIB) Price Down 87% From All-Time High
Shiba Inu (SHIB) has seen a sharp decline since reaching an all-time high in October 2021, with the price now down 87.45%. Over the past week, SHIB has decreased by 13.7%, and over the last 30 days, it has fallen 26.5%. The token is currently ranked 14th highest crypto network based on market cap.
Support Level at $0.0000100
The breakdown from its $0.0000122 support zone is a significant development in the token price. SHIB is attempting to validate a prior long-term descending resistance line as support, but if it does not hit this level, then the price could fall to the next support level at $0.0000100. However, there is potential for a retest of the $0.0000122 zone if there is enough rebound strength in the market for SHIB tokens to make up some ground against their losses over recent weeks and months of trading activity..
Wagmi Temple Coming Soon
The team behind SHIB announced that they will be debuting their Wagmi Temple at SXSW Festival this March 12 – 14 in Austin, Texas; WAGMI stands for We’re All Going To Make It which is popular phrase among Shiba Inu fans who believe strongly in their growth and success potential as a project within Crypto space as whole.. This health and wellness hub will be part of Shib Mataverse project where various tokens such as Leash, Shibu and Shibosis will play important roles moving forward with development plans centred around foundational resources for community building and great partnerships being formed across industry spectrum too; so no doubt SXSW could bring more positive sentiment to token prices here too!.
24 Hour Trading Volume Up 138%
In terms of day-to-day trading activity right now its 24 hour volume numbers have increased significantly by 138 % to total just under 370 million dollars; however when you look at market capitalisation those figures have only increased by 2% over same period indicating we may still be seeing further declines despite current levels; yet when you look back at what could possibly happen if real world utility was brought into equation then entire network’s value would climb to 5$ trillion which still seems reasonable even though compared with ATH peak figure would need 83000 % increase!.
In conclusion Shiba Inu (SHIB)has seen steady declines since reaching an all time high back in October 2021 with current prices standing below previous support levels making way for further drops if those can’t sustain themselves properly;yet on more optimistic side upcoming Wagmi Temple debuting at SXSW festival could help bring more confidence back into overall picture combined with increasing 24 hour volume numbers too!