Shiba Inu (SHIB) has struggled to delete a zero from its price over the last month. The asset last traded above the $0.00001 mark on Nov. 11. SHIB seems to be consolidating around the $0.000008 price level. According to CoinGecko, SHIB has seen no price change in the last 24 hours, but is down 1.8% in the last week, 0.8% in the 14-day charts, 15.3% over the last month, and 67.8% since December 2024. Let’s discuss why Shiba Inu’s (SHIB) price is struggling to rally, and if it will delete a zero soon.
Why Is Shiba Inu Not Rallying? Can It Delete a Zero Soon?
Shiba Inu’s (SHIB) struggles come amid a larger bearish market. The cryptocurrency sector underwent a massive price correction over the last few months. October, a historically bullish month, experienced the largest single-day liquidation event in crypto history. The market downtrend has since continued into December.
Shiba Inu (SHIB) is a memecoin and relies on online buzz for price movements. The hype around SHIB has substantially declined over the last few years. The lack of buzz around the project may have also negatively impacted its price.
There is a high chance that Shiba Inu (SHIB) will delete a zero from its price over the coming weeks. The Federal Reserve is expected to roll out another interest rate cut after today’s Federal Open Market Committee (FOMC) meeting. Rate cuts often lead to investors taking on more risks. Shiba Inu (SHIB), being a memecoin, carries some of the highest risks in the market. The memecoin market could see a surge in investments if the Federal Reserve further lowers rates.
Also Read: 2 Major Updates Are Turning Sentiment Bullish for Shiba Inu
Shiba Inu (SHIB) will likely follow Bitcoin’s (BTC) trajectory. BTC is expected to climb to a new all-time high in 2026 and 2027. BTC hitting a new peak could lead to SHIB following suit as well.
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