Shiba Inu (SHIB) has slumped below its key $0.000015 support, dropping 5% in a day as its burn rate plunges.
By Anisha Pandey
Edited by Julia Sakovich
Updated
3 mins read
Shiba Inu price SHIB $0.000013 24h volatility: 6.4% Market cap: $7.84 B Vol. 24h: $267.12 M has fallen below its major $0.000015 support level for the first time in 2025, raising concerns among traders. The meme coin is currently trading around $0.00001485, marking a 5% decline in the past 24 hours. This downward move coincides with a 66% drop in SHIB’s burn rate, according to Shibburn data.
In the last 24 hours, only 15.1 million SHIB tokens have been burned, suggesting a slowdown in the token supply reduction. A lower burn rate generally means a period of price stagnation or further downside pressure, as fewer tokens are removed from circulation.
Historically, the $0.000015 mark has served as a strong price floor for SHIB, but weak bullish momentum and broader market downturns have led to a breakdown. The meme coin sector has also been struggling following the recent LIBRA token controversy. As per the data by CoinMarketCap, the entire meme coin market has suffered a 37% decline, with its total market cap now sitting at $62.9 billion.
Notably, the SHIB market cap has seen a 55% drop since early December, now standing at $8.76 billion.
On the daily SHIB price chart, the Relative Strength Index (RSI) is hovering around 37, suggesting that the token is approaching oversold territory. This increases the chances of a relief bounce. However, with RSI still above 30, there could be room for further downside before a potential rebound.
Meanwhile, the second-largest meme coin is testing the lower Bollinger Band, a sign that the asset is under increased selling pressure. If the price continues to close below the band, it could indicate further downside ahead.
If SHIB continues its ongoing price slump, it could face the next key support at $0.0000135. Further, a break below this level could lead the token to retest the $0.000012 region. On the other hand, a bullish scenario would require SHIB to reclaim $0.000015 as support, potentially leading to a move toward the middle Bollinger Band at $0.0000168.
Despite the current price drop, crypto analyst Javon Marks has pointed out a potential bullish structure forming in SHIB’s chart. In a recent post on X, Marks highlighted an Inverse Head & Shoulders pattern, a classic bullish reversal signal.
Source: JAVON MARKS / X
According to his analysis, if SHIB successfully confirms this pattern, it could pave the way for a major rally toward $0.000081, a staggering 400% increase from current levels.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
