Shiba Inu Dips Amid Broader Market Volatility
Shiba Inu (SHIB), one of the most popular meme coins, fell by 5% in the past 24 hours, following a surge in trading volume. Despite the decline, the price found strong support near $0.00001440, signaling that long-term investors are still backing the token.
“SHIB dropped sharply but quickly stabilized, thanks to strong support levels and loyal holders,” said analysts from CoinGecko.
This pullback comes amid overall bearish sentiment in the altcoin market, triggered by global macroeconomic concerns and recent crypto regulations in the U.S.
Over 1.13 Million SHIB Holders Remain Unshaken
Even as the price fluctuates, the Shiba Inu community remains one of the strongest in the crypto world. According to Etherscan data:
SHIB now boasts over 1.13 million wallet holders, indicating a solid base of long-term supporters.
This loyal investor group has helped SHIB maintain resilience in volatile markets. Many are holding their positions in anticipation of key ecosystem upgrades, such as Shibarium Layer-2 developments and expanded DeFi utilities.
“Shiba Inu has transformed from a meme coin to a utility-driven ecosystem, and its holders know that,” said a DeFi strategist at IntoTheBlock.
Technical Analysis: Support Holding Steady at $0.00001440
From a technical standpoint, SHIB’s current support at $0.00001440 is crucial. If the token holds above this level, analysts believe it could attempt a rebound towards resistance levels at $0.00001580 and $0.00001650.
“Volume spikes during the dip suggest accumulation rather than panic selling,” noted crypto trader @CryptoTony on Twitter.
The 50-day moving average is also acting as a support zone, further reinforcing the idea that SHIB may be positioning for a recovery, especially if the broader market stabilizes.
Ecosystem Growth Could Drive Future Gains
Developers behind Shiba Inu continue to build the project’s ecosystem, with recent progress in:
- Shibarium Layer-2 scaling solution
- SHIB: The Metaverse
- Integration with DeFi protocols and NFTs
These innovations are attracting long-term investors and developers, reinforcing the token’s value proposition beyond hype and memes.
“SHIB’s fundamentals are stronger than ever. It’s not just a meme anymore,” said the lead developer Shytoshi Kusama.
SHIB Holders Stay Loyal Despite Price Dip
While SHIB faced a 5% decline, the token’s resilience at $0.00001440 and support from over 1.13 million holders underline strong investor conviction. As upcoming upgrades and ecosystem milestones approach, long-term sentiment remains bullish.