Shiba Inu (SHIB) price collapses! Bitcoin flash crashes at $58,000, Mt.Gox collapses causing market chaos?
As Shiba Inu faces a major price drop, on-chain data shows that the next massive support may be between $0.000008 and $0.000014. A total of 155.15 trillion SHIBs were purchased in this range, which may become an important support for the price.
According to data from IntoTheBlock, these SHIBs were purchased by 358,200 addresses at an average price of $0.000008 to $0.000014. This indicates that a large number of investors entered the market in this price range, and they may maintain this price range and even continue to buy to prevent the price from falling below their average entry point.
If the market rises, bulls may need to quickly push the Shiba Inu (SHIB) price above $0.000020. Once Jinqu/n佳卫: btc0877 succeeds, SHIB has the potential to rise further to $0.000025. However, if the Shiba Inu price continues to fall, it could drop to $0.000014 or even $0.000010.
As of this writing, SHIB has fallen 9.51% in the past 24 hours to $0.00001526 and 10.25% in the past seven days.
Meanwhile, as most cryptocurrencies suffered a sell-off, the price of Bitcoin fell below $58,000. The main reason for this sharp price drop was attributed to the collapse of Japan-based cryptocurrency exchange Mt.Gox
