Shiba Inu (SHIB), a popular meme coin, experienced a significant drop in value, falling by 40% after reaching its range high. The cause of this crash is unclear, and it is uncertain whether it is a temporary dip or a sign of deeper trouble for SHIB. The current price of SHIB is $0.00002275, with a 24-hour trading volume of $3.83 billion. The market sentiment around SHIB is bearish, and the Fear & Greed Index reflects "Greed." Despite the drop, there are signs of confidence among major investors, with increased whale activity and large transaction volumes. SHIB plans to expand its social and DeFi platforms, which could attract retail and institutional investors. Technical analysis suggests that SHIB's current price aligns with a key support zone, and if it holds, the probability of a crash to zero is reduced. In the short term, SHIB could consolidate within a specific price range. In the mid-term, with ecosystem updates, SHIB's price could experience renewed interest and potentially increase by 32%. In the long term, analysts believe SHIB could challenge its all-time high. While there are inherent risks with speculative assets like SHIB, a crash to zero seems unlikely in the near term due to strong community backing, developer activity, and potential market recovery.



Other News from Today