Shiba Inu (SHIB), one of the popular meme coins, recently faced a sharp decline in its value. After reaching its highs, SHIB’s price tumbled by 40%. What caused this drop and what does it mean for SHIB’s future?
How Has the Shiba Inu (SHIB) Price Moved Recently?
The current price of Shiba Inu (SHIB) stands at $0.00002275, with a 24-hour trading volume of $3.83 billion and a market cap of $13.40 billion, granting it a market dominance of 0.39%. Over the past 24 hours, SHIB’s price has risen by 1.82%. SHIB hit its all-time high of $0.00008819 on October 28, 2021, while its all-time low was recorded on November 28, 2020, at $0.00000005637. The current market sentiment around SHIB is bearish, with a Fear & Greed Index level of 73, signaling "Greed."
Shiba Inu Price Prediction: Will SHIB Price Crash to 0?
Shiba Inu (SHIB) has experienced a 40% drop since hitting its December highs, reaching a critical long-term support level. Such levels often act as psychological barriers for traders, enabling price stabilization or rebounds. Over the past 24 hours, SHIB has seen a 41.39% spike in large transaction volumes, amounting to $76.48 million. Whale activity of this kind typically indicates strategic buying at perceived discount prices, suggesting confidence among major investors in the token’s future.
Could SHIB Crash to Zero?
While speculative assets like SHIB carry inherent risks, a crash to zero seems highly unlikely in the near term. This is due to whale support and the planned ecosystem expansion, including DeFi and social platforms, which adds utility and encourages token adoption. As long as SHIB maintains trading volumes and active development, its value is likely to remain above critical support zones.
The price drop of Shiba Inu has caught the attention of investors and analysts alike. Despite current risks, support from large-scale investors and ecosystem development offers hope for recovery. Over time, with the right strategy and market conditions, SHIB might show positive trends again.
