- Shiba Inu (SHIB) has dropped 11% in the past 24 hours, falling below a crucial support level of $0.0000185.
- This breach could signal further declines, leaving investors anxious about SHIB’s short-term prospects.
Shiba Inu (SHIB) is facing a major setback as it plunges to a three-month low, with a sharp 11% drop in just 24 hours. This price decline comes amid a broader cryptocurrency market downturn, but SHIB’s fall has been particularly dramatic, casting doubt on its future prospects.
After a promising post-election rally that saw SHIB surge from $0.000016 to over $0.000033, the second-largest meme coin failed to maintain its upward momentum. Despite bullish trends for major assets like Bitcoin (BTC), Ripple (XRP), and Cardano (ADA), SHIB started to lose steam. Its January 2025 peak of $0.000025 represented a 25% drop from its late 2024 high, signaling a loss of investor confidence.
As of January 27, 2025, SHIB has dropped below a critical support range of $0.0000185 to $0.0000212, a level that had previously acted as a floor for its price. Popular crypto analyst Ali Martinez highlighted the significance of this support, noting that falling below this zone could indicate further losses for the meme coin. With SHIB now trading below this key threshold, traders are bracing for more volatility, especially if the price doesn’t recover by the close of the day.
This recent slump has been exacerbated by the rise of the TRUMP token, which briefly overtook SHIB in market capitalization, further dampening sentiment around the Shiba Inu token. Despite previous bullish predictions, the price action is proving to be concerning for SHIB holders, especially with the ongoing struggle to regain support.
The big question now is: can Shiba Inu bounce back from this critical support breach, or is further downside on the horizon? Only time will tell, but for now, SHIB’s future hangs in the balance, and investors are watching closely for any signs of recovery.
