Shiba Inu (SHIB) is trading at $0.0000055 on Monday, already in negative territory and down nearly 56% over the past year, making it one of the worst-performing cryptocurrencies. Investments have dried up as few new traders enter and existing traders stop adding money to cover losses. The token may be bottoming out, but according to a forecast from CoinCodex, SHIB could trade sideways for three weeks and then fall to $0.0000054 by the end of September 2026, a further 2% decline. Taking an entry position is now risky, and the forecast suggests skipping Shiba Inu entirely this month as it has no bullish thesis.
Shiba Inu is trading at $0.0000055 on Monday and is already in the red, heading south in the indices. SHIB has bled nearly 56% over the past year, making it one of the worst-performing cryptocurrencies in the market.
An investment in the dog-themed token at any point this year has turned into losses for investors. This has led to investments drying up, with very few new and first-time traders taking an entry position in the meme coin.
The existing traders have stopped pouring in money to make up for their losses. On the heels of the ongoing price downturn, the question arises whether this can be the best buying opportunity.
The token could be trading at the end of the barrel for traders to scoop it up while it is bottoming out. However, according to leading on-chain metrics and price prediction firm CoinCodex, SHIB could trade sideways in the next three weeks, delivering no profits to investors.
The latest forecast states that the dog-themed token could fall to $0.0000054 by the end of September 2026. That is a dip of another 2% from its current price.
Therefore, taking an entry position in SHIB is now a risky affair, as the downside is more likely to play out. In conclusion, skipping Shiba Inu entirely will be the best option this month, as it has no bullish thesis.
