Shiba Inu Reaches Dangerous Level, Catastrophe Might Be Ahead

$SHIB problematic placement on crypto market may escalate into catastrophe

In the last three days, Shiba Inu has been consolidating around the fundamental support level which, if broken, could send the token back to this month or even year's lows. Such a dynamic might transform into a catastrophe for the meme-based token as investors most likely will not be able to take yet another plunge.

Since June 2022, SHIB was able to reclaim more than 20% of its value, bringing some hope to mid- and long-term investors who have been coping with losses since October 2021. Despite redistribution among holders and the fundamental growth of the project, the speculativeAccording to volume profiles, Shiba Inu is not showing any signs of a fading, meaning the current consolidation or low-volatility ascending trend is going to continue in the midterm.

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