{"id":48641,"date":"2025-02-28T17:21:37","date_gmt":"2025-02-28T17:21:37","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=48641"},"modified":"2025-02-28T17:21:37","modified_gmt":"2025-02-28T17:21:37","slug":"shiba-inu-shib-might-plunge-by-another-30-before-finding-support-analyst","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=48641","title":{"rendered":"Shiba Inu (SHIB) Might Plunge by Another 30% Before Finding Support (Analyst)"},"content":{"rendered":"

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

According to Ali Martinez, SHIB could find support at as low as $0.0000094.<\/p>\n

However, a breakout above $0.00001461 could trigger bullish momentum and a 230% price rally.<\/p>\n

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

SHIB\u2019s Freefall Could Stop Here<\/h2>\n

The meme coin sector has suffered painful losses following the overall <\/span>crypto market crash<\/span><\/a> in the past few days. The second-largest asset of that type \u2013 Shiba Inu (SHIB) \u2013 was among the worst affected, with its price plummeting by 16% weekly and 10% daily.<\/span><\/p>\n

<\/a>SHIB Price, Source: CoinGecko<\/p>\n

Its market capitalization plunged below $7.7 billion, meaning the asset is now out of crypto\u2019s top 20 <\/span>club<\/span>. As expected, the downtrend has negatively affected SHIB\u2019s investors. According to IntoTheBlock\u2019s data, the share of people sitting at paper losses has <\/span>surged<\/span><\/a> past 60%.<\/span><\/p>\n

One person touching<\/span> upon SHIB\u2019s recent performance <\/span>was Ali Martinez<\/span>.<\/span> The analyst <\/span>assumed<\/span><\/a> that the price of the meme coin could decline to $0.000012 or $0.0000094 before finding support. The second level represents a 30% decline from the current rate.\u00a0<\/span><\/p>\n

Another industry participant who chipped in on the matter was the X user Rose Premium Signals. They <\/span>envisioned<\/span><\/a> a bullish momentum if SHIB breaks above $0.00001461. The analyst predicted that reclaiming the target could lead to a price rally to as high as $0.00004401 (a 230% increase from the ongoing valuation).\u00a0<\/span><\/p>\n

More Pain Ahead?<\/span><\/h2>\n

Two <\/span>important<\/span> factors signal that SHIB bears might continue to prevail in the short term. The first is the reduced Shibarium activity.<\/span><\/p>\n

At the beginning of the month, Shiba Inu\u2019s layer-2 scaling solution processed multi-million transactions on a daily scale, but in the past few weeks, this figure has <\/span>shrunk<\/span><\/a> substantially.\u00a0<\/span><\/p>\n

This<\/span> suggests decreased interest in the network\u2019s applications, such as decentralized finance (DeFi), NFT projects, or gaming platforms. <\/span>For its part, this<\/span> could lower demand for SHIB tokens and reduce the buying pressure.<\/span>\u00a0<\/span><\/p>\n

The next factor is Shiba Inu\u2019s burning mechanism. The burn rate has <\/span>dropped<\/span><\/a> by 16% in the last 24 hours, resulting in around 25 million tokens sent to a null address.\u00a0<\/span><\/p>\n

The program\u2019s ultimate goal is to reduce the tremendous circulating supply of SHIB, <\/span>possibly<\/span> making the asset more valuable via scarcity.<\/span> However, stalled progress could hinder that mission.<\/span><\/p>\n

The post Shiba Inu (SHIB) Might Plunge by Another 30% Before Finding Support (Analyst)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

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\u2019s 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 […]<\/p>\n","protected":false},"author":0,"featured_media":48642,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-48641","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\/48641"}],"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=48641"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/48641\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/48642"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}