SHIB’s price has dipped below $0.00001, signaling a potential market correction. However, despite this decline, Shiba Inu (SHIB) continues to demonstrate strong holder growth, indicating a sustained belief in the project’s long-term success. Trading volume also has been dropping, suggesting a possible bottom for SHIB. 80M open interest points towards a near-term turnaround as investors continue holding SHIB despite market pressure. A recent drop in both open interest and trading volume may indicate SHIB is nearing a potential bottom. 1.54 million unique wallets are holding SHIB, suggesting investor confidence in the project’s future. This could signify an opportunity for a potential recovery as price rebounds. The token has dipped considerably from its all-time high of $0.00008616 and currently trades at around $0.000009951. However, despite this decline, SHIB is still up over 17 million percent from its all-time low. Technical indicators suggest potential for a breakout after the recent resistance line has been broken, leaving room for a possible rally to the $0.000012000 mark. This could signal a significant price increase, similar to past market cycles. Notably, SHIB is facing strong headwinds from broader market downturns. Market analysts are optimistic about the project’s future, attributing this resilience to the community’s unwavering belief in its long-term goals. A recent tweet from Etherscan_SHIB highlights the growth and momentum of the SHIB community. Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.