In the fast-paced world of cryptocurrency, few things are as thrilling—and humbling—as watching meme coins like Shiba Inu (SHIB) ride the wild waves of the market. Just when you think you’ve gotten a hang of it, in comes the tide to catch you off guard. Recently, SHIB’s plummet has been nothing short of alarming, sending waves of panic through its community. But worry not! Analysts like Ali Martinez suggest that this meme coin could find a lifeline at around $0.0000094, with a tantalizing prospect of a bullish rally if it breaks past $0.00001461—potentially leading to a staggering 230% increase. So, is SHIB merely holding its breath before an epic comeback, or are we just at the start of a deeper plunge? Stick around as we unpack the intricate dance of resistance and support in the SHIB market. LEARN MORE
TL;DR
According to Ali Martinez, SHIB could find support at as low as $0.0000094.
However, a breakout above $0.00001461 could trigger bullish momentum and a 230% price rally.
SHIB’s Freefall Could Stop Here
The meme coin sector has suffered painful losses following the overall crypto market crash in the past few days. The second-largest asset of that type – Shiba Inu (SHIB) – was among the worst affected, with its price plummeting by 16% weekly and 10% daily.
SHIB Price, Source: CoinGecko
Its market capitalization plunged below $7.7 billion, meaning the asset is now out of crypto’s top 20 club. As expected, the downtrend has negatively affected SHIB’s investors. According to IntoTheBlock’s data, the share of people sitting at paper losses has surged past 60%.
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