{"id":41171,"date":"2025-02-03T09:09:31","date_gmt":"2025-02-03T09:09:31","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=41171"},"modified":"2025-02-03T09:09:31","modified_gmt":"2025-02-03T09:09:31","slug":"shiba-inu-shib-crashes-20-daily-but-this-key-metric-suggests-a-comeback","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=41171","title":{"rendered":"Shiba Inu (SHIB) Crashes 20% Daily But This Key Metric Suggests a Comeback"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

SHIB collapsed to a four-month low, but one indicator suggests a potential move to the upside.<\/span>
\nThe <\/span>entire<\/span> meme coin niche is in red today (February 3), with WIF, BONK, FLOKI, and more among the biggest losers.<\/span><\/p>\n

<\/a><\/span><\/h2>\n

Just a Temporary Correction?<\/h2>\n

The past 24 hours have been calamitous for the cryptocurrency market, with numerous leading digital assets recording double-digit losses. Bitcoin (BTC) briefly <\/span>crashed<\/span><\/a> below $92,000, but it was the altcoins that took the major blow.\u00a0<\/span><\/p>\n

Among the worst affected was the popular meme coin Shiba Inu (SHIB), whose valuation collapsed to $0.00001284, representing the lowest point since September last year. In the following hours, the bulls managed to restore some of the lost ground, and the price is currently hovering at around $0.00001443, a 17% daily decline.<\/span><\/p>\n

<\/a><\/p>\n

Despite the bearish environment, the SHIB Relative Strength Index (RSI) suggests an incoming reversal. The metric, which measures the speed and change of price movements, varies from 0 to 100 and helps traders identify oversold or overbought conditions.\u00a0<\/span><\/p>\n

The ratio recently <\/span>dipped<\/span><\/a> to 16, which signals that the asset might be undervalued and potentially headed for a rally in the short term.\u00a0<\/span><\/p>\n

Additionally, SHIB\u2019s exchange netflow has <\/span>turned<\/span><\/a> predominantly negative <\/span>in the past week<\/span>.<\/span> This<\/span> indicates a possible shift from centralized platforms toward private wallets, hence a reduced immediate selling pressure.<\/span><\/p>\n

<\/a>SHIB Exchange Netflow<\/p>\n

Overall Meme Coin Outlook<\/span><\/h2>\n

The total market capitalization of the meme coin sector currently stands at approximately $75 billion. <\/span>This represents a major crash of over 17% <\/span>on a 24-hour scale<\/span>.<\/span><\/p>\n

Some of the biggest losers include Pepe (PEPE), Bonk Inu (BONK), Floki (FLOKI), <\/span>dogwifhat<\/span> (WIF), and Brett (BRETT). All of those saw their prices plummet by more than 20% during the aforementioned timeframe.<\/span><\/p>\n

The meme coins that made the headlines<\/a> towards the end of January<\/span> \u2013 <\/span>Official Trump (TRUMP) and Melania Meme (MELANIA)<\/span> \u2013 <\/span>have also headed south. The former lost its spot in the top<\/span> 3 <\/span>list and is now the fourth-biggest meme.<\/span> For its part, MELANIA (whose market cap briefly spiked<\/a> above $2 billion last month) now has a capitalization of just $220 million.<\/span><\/p>\n

On the other hand, Fartcoin (FARTCOIN), AI Rig Complex (ARC), and Elon4AfD (ELON4AFD) are among the very few charting some gains.\u00a0<\/span><\/p>\n

The post Shiba Inu (SHIB) Crashes 20% Daily But This Key Metric Suggests a Comeback<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR SHIB collapsed to a four-month low, but one indicator suggests a potential move to the upside. The entire meme coin niche is in red today (February 3), with WIF, BONK, FLOKI, and more among the biggest losers. Just a Temporary Correction? The past 24 hours have been calamitous for the cryptocurrency market, with numerous […]<\/p>\n","protected":false},"author":0,"featured_media":41172,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-41171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41171"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41171"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41171\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/41172"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}