Shiba Inu (SHIB/USD) slides 9% to find support. What are the odds of a reversal?

Shiba Inu (SHIB/USD) trades at merely $0.000010 after losing more than 10% in the week. That comes as investors develop a risk-off attitude towards volatile assets. The current level is a make-or-break point for SHIB, going by the current technical indicators.

The absence of a price catalyst in cryptocurrencies has been fueling a bear market for SHIB. First, the general mood in crypto remains bearish. As of press time, leading cryptocurrencies Bitcoin and Ethereum had fallen by more than 4% and 3%, respectively. The declines happen as investors exercise caution ahead of the US inflation data on Thursday.

Aside from the macro events, the SHIB fall happens amid delayed projects. That includes the much-anticipated metaverse. The utility of the m