The popular meme-inspired cryptocurrency, Shiba Inu (SHIB), has lost a key support level, according to Ali Martinez. Martinez predicts that the next major support zones to watch are $0.000011 and $0.000008 per SHIB. Currently trading at $0.0000155, this potential drop could result in a decline of 29% to 48.5%. Despite its relevance being questioned, SHIB remains the second biggest meme cryptocurrency and has a market cap of $9.17 billion. If the predicted dip occurs, it could erase $2.66 billion to $4.44 billion from its market cap, which may affect confidence in the token's ability to stay relevant in an increasingly saturated meme coin market.



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