Shiba Inu falls to crucial level that prompted 100% rise in July, will this repeat? SHIB $SHIB ShibArmy SHIBCommunity Crypto
briefly added an extra zero to its price tag on Sept. 18 as it touched the key support near $0.000009, from where it rallied nearly 100% in July. Shiba Inu gained nearly 100% when it rebounded from July 12 lows of $0.0000098 and reached highs of $0.0000179 on Aug. 14 after a steady climb.At the time of publication, Shiba Inu was down 10% at $0.0000102. Shiba Inu saw a faint rebound after dipping to lows of $0.
It follows an unanticipated increase in inflation in August. Contrary to what economists predicted, the consumer price index climbed by 0.1% for the month and by 8.3% over the previous year. Investors now anticipate that the Fed will maintain higher interest rates for a longer period until prices decline.
As Shiba Inu remains correlated to the general market movement, it might be necessary to watch out for"macro bottoms" to predict SHIB's next price move.
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