June was an erratic month for the crypto community’s second favorite meme coin Shiba Inu. SHIB/USD ended the month with losses of just shy of 12% just above the $0.000010 level. But the memecoin was at one point nearly 40% down on the month when it fell into the low-$0.000007s.
Equally, SHIB/USD was also at one point trading with monthly gains of about 4% when it rallied towards $0.000011. Over the past few days, the cryptocurrency has been consolidating between its 21 and 50-Day Moving Averages at $0.0000095 and $0.0000105 respectively.
SHIB/USD pivoted on either side of a key long-term level of support just under $0.000010 last month. This level was (roughly) the top of Shiba Inu’s trading range during the summer of 2021.