Shiba Inu (SHIB) has managed to avoid adding a fifth zero to its price, rebounding from $0.000007448 to $0.00001072 on October 11. However, the token continues to face bearish pressure, frequently dipping below the $0.00001 mark. As of October 21, SHIB recovered to $0.00001055 but remains 69.66% below its December high.
Exchange reserves for SHIB have increased, suggesting that more holders are moving their tokens to exchanges, potentially indicating selling pressure. Additionally, a descending triangle pattern on the price chart points to further downside risks if the $0.00001052 support level is breached.
Shiba Inu Faces Bearish Pressure Despite Recent Price Recovery
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