For the first time since 2024, Shiba Inu (SHIB ($0.00)) has fallen below the crucial $0.000015 price level. This decline marks a significant moment for the meme coin, which now faces intense selling pressure and further downside risk. After enjoying speculative rallies in the past, SHIB now struggles to hold onto key support as bearish momentum takes control.
Market Weakness Pushes SHIB Lower
Throughout SHIB’s trading history, the $0.000015 level acted as a strong support zone. However, the broader market’s lack of bullish sentiment, combined with SHIB’s ongoing downtrend, has led to this key level breaking. When a cryptocurrency falls below an essential support level, it often triggers more selling and deeper price declines. This breakdown reinforces a bearish outlook for SHIB.
24-hour price chart. Source: CoinMarketCap
The next significant support level sits near $0.000012. This price zone may provide temporary relief for holders, but current market conditions suggest further losses remain possible. The primary factors behind SHIB’s decline include overall market volatility and reduced interest from large investors, also known as whales.
Related article: Shiba Inu Eyes 25% Upside: Can SHIB Hold Above $0.00001559?
Despite developments like Shibarium and staking programs, SHIB has failed to regain its previous bullish momentum. Investors once hoped these advancements would boost long-term value, but the token continues to struggle.
Technical Indicators Signal More Weakness
Technical data further supports the bearish trend. The Relative Strength Index (RSI) hovers near oversold territory, signaling weak demand. Additionally, trading volume remains flat, indicating a lack of buying interest at the current price level.
Related article: Shiba Inu Plunges to $0.00001538 – Is a 12% Rebound Coming?
Although SHIB’s short-term outlook appears bearish, the crypto market remains unpredictable, and sudden reversals are always possible.
If SHIB quickly reclaims the $0.000015 level, it may stabilize. However, if selling pressure continues, a test of the $0.000012 support level seems inevitable.
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