Historically bearish September seems to be living up to its name. The cryptocurrency market is facing one of its most significant price corrections in recent months. Shiba Inu (SHIB) has also experienced a substantial price crash. According to CoinGecko data, SHIB’s price has fallen 6.7% in the last 24 hours, 10.9% in the last week, 3.4% in the 14-day charts, 9.2% over the previous month, and 17.7% since September 2024.
Will Shiba Inu Gain Another Zero Amid Price Crash?
Shiba Inu (SHIB) is currently facing a substantial risk of gaining another zero after its decimal point. However, investors should note that SHIB last traded under $0.00001 in February of 2024. The popular cryptocurrency has not gained a zero after its decimal point over the last 18 months. The trend may continue, given that SHIB has some support at the $0.000012 level.
CoinCodex analysts also don’t expect Shiba Inu (SHIB) to fall below the $0.00001 mark. The platform anticipates SHIB’s price to consolidate around its current level. According to CoinCodex’s data, SHIB could hit $0.00001384 on Oct. 28. Hitting $0.00001384 from current price levels will translate to a rally of about 14.38%.
The latest market crash could be due to fresh volatility arising from uncertainties around the Federal Reserve’s monetary policy. Federal Reserve Chair Jerome Powell will deliver a speech tomorrow, Sept. 23, 2025. Investors will likely look for clues on where the Fed stands. A dovish stance could lead to Shiba Inu’s (SHIB) price experiencing a rebound. However, a hawkish stance could lead to SHIB’s price falling even further. Such a scenario could lead to SHIB gaining an additional zero in its price.
Also Read: Can Shiba Inu Become a Payment Token? Here’s Where It’s Accepted Now
On the other hand, October has historically been a bullish month for the cryptocurrency market. We could see the pattern continue in 2025 as well.
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