Oh, the fickle whims of fate! Our beloved Shiba Inu, once a paragon of meme coin delight, has taken a nosedive that would make even the most seasoned cat acrobat dizzy. In a mere 48 hours, the heavens have frowned upon it, and now it finds itself teetering on the edge of crucial support.
Just this past Sunday, the cryptocurrency closed with a plaintive whimper, marking a 4.2% fall to a disheartening low of $0.00001369. But wait-Monday’s dawn brought even darker tidings, as Shiba Inu saw its value plunge by an additional 4.82% to a bleak intraday low of $0.00001297, according to our faithful oracle, CoinMarketCap. It seems volatility is the new best friend of our furry friend!
Ah, but let’s not overlook the grand stage of the broader market, which decided that today was a splendid day to rain on everyone’s parade. Amid a cacophony of macroeconomic conundrums and the insatiable allure of profit-taking, a staggering $425 million vanished into the crypto ether in the last 24 hours alone, as reported by CoinGlass.
Our meme coin compatriots are feeling the sting as well: Dogecoin limped away with a 7.91% decrease and poor PEPE and Bonk have hardly fared better, nursing losses of nearly 7%. And what of the Shibarium gas token BONE, you ask? With a 4.19% drop, it clearly got spooked by a mishap over the weekend that cost a staggering $2.4 million in tokens. Touché, Shibarium!
SHIB Faces Its Moment of Truth 🤔
Now, as Shiba Inu extends its fall from the lofty heights of $0.00001484 reached on Sept. 13, it finds itself at a critical juncture-testing the support level at the daily SMA 200, sitting precariously at $0.00001298. Will it rise to the challenge and reclaim its former glory above $0.000013? Or will it succumb to gravity and plummet further, seeking refuge at $0.00001279, close to the daily SMA 50, before contemplating an even gloomier descent to $0.00001181?
Only time-and perhaps a few good memes-will tell!
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2025-09-15 18:50