- Shiba Inu faces a potential drop of up to 48.5% as it loses a key support level, raising concerns among investors.
- Shiba Inu risks losing up to $4.44 billion in market cap, challenging its relevance in the crowded meme coin market.
Shiba Inu (SHIB) has lost a key support level, sparking concerns among investors. Crypto analyst Ali Martinez warns that the next major support zones are at $0.000011 and $0.000008 per SHIB. Currently, the meme coin trades at $0.0000155. If it drops to these predicted levels, SHIB could fall by 29% to 48.5%. That kind of decline isn’t just alarming — it’s massive. The last time SHIB traded this low was in November 2023 and August 2024.
Market Cap at Risk
SHIB’s market capitalization stands at $9.17 billion. But if Martinez’s prediction holds, it could lose between $2.66 billion and $4.44 billion. That kind of hit would be devastating, wiping out billions from its valuation. Despite this looming threat, Shiba Inu remains the second-largest meme coin. Its ability to hold this position surprises many, given the explosion of new meme tokens flooding the market.
Community Power or Market Manipulation?
Why does SHIB still hold strong despite market pressures? Some point to the community’s unwavering support. Others suspect token manipulations at play. Once hailed as the “DOGE killer,” SHIB has since lost that title. It was once Ethereum’s top meme coin — a crown now worn by PEPE. Today, SHIB’s price movements seem to mirror Ethereum, yet it keeps slipping down the crypto rankings.
A Blow to SHIB’s Relevancy?
Martinez’s bearish outlook raises a pressing question: Can SHIB stay relevant? A nearly 50% drop could deal a major blow to investor confidence. With the meme coin space becoming increasingly crowded, SHIB needs more than community backing to survive. Without a significant catalyst, this predicted dip could mark a critical turning point.
