Shiba Inu is following the market-wide recovery after Bitcoin (BTC) reclaimed the $91,000 price level. According to CoinGecko’s Shiba Inu data, SHIB is up 1.5% in the last 24 hours and 7.3% over the previous week. Despite the trend reversal, the popular crypto is still down by 5% in the 14-day charts, 14.1% in the monthly charts, and 65.9% since November 2024. While Shiba Inu (SHIB) has experienced quite a steep price rally, the asset is struggling to delete the zero after its decimal point, which it gained earlier this month. Let’s discuss why.
Why Is Shiba Inu (SHIB) Not Able To Delete a Zero Despite a Price Rally?
Shiba Inu’s (SHIB) recent reversal is likely due to improving macroeconomic conditions in the US. Moreover, the chances of another interest rate cut in the US have significantly increased. According to CME FedWatch, there is an 84.7% chance of a 25 basis point interest rate cut in December. The anticipation of a rate cut may have lifted investor sentiment to buy riskier assets, such as Shiba Inu (SHIB) and other cryptocurrencies.
Despite the turnaround, Shiba Inu (SHIB) is still struggling to delete a zero from its price. This is likely because there is still substantial volatility in the market. SHIB is facing significant resistance at the $0.0000088 price level. Overcoming this barrier may allow the popular crypto to finally delete a zero from its price once again. Volatility apart, Shiba Inu (SHIB) is a memecoin, carrying big risks. Investors are likely not as bullish on memecoins as they are on Bitcoin (BTC) and other altcoins.
Also Read: What Will Shiba Inu’s Price Be During the First Quarter of 2026?
CoinCodex analysts anticipate Shiba Inu (SHIB) to slowly rally over the next month. The platform predicts SHIB will delete a zero and hit $0.00001006 on Dec. 25. However, CoinCodex analysts do not expect SHIB to hold the $0.00001 price level, predicting a correction in early January 2026.
