Shiba Inu (SHIB) has seen a mild decline over the past 24 hours, losing about 1.45% of its value. The token now trades around $0.00001199, slipping from earlier intraday highs of $0.00001245. The downturn reflects cautious trading across the meme coin market, as broader sentiment weakens slightly.
Market Position and Trading Activity
Shiba Inu’s market capitalization now stands at $7.06 billion, keeping it among the top 25 cryptocurrencies globally. Despite this impressive valuation, daily trading activity has cooled notably. The 24-hour trading volume decreased by 28.54%, settling at approximately $174.6 million. This volume decline signals reduced trader enthusiasm in the short term, likely due to minor profit-taking after recent rebounds in meme coins.
24-hour price analysis Source: CoinMarketCap
Over the past day, SHIB’s price fluctuated between $0.00001198 (low) and $0.00001245 (high), indicating a narrow range where both buyers and sellers struggled to gain control.
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Shiba Inu remains 86.46% below its all-time high of $0.00008845, recorded on October 28, 2021, when the token dominated headlines as the “Dogecoin killer.” However, SHIB has soared an astronomical 146,701,558.53% from its all-time low of $0.00000000008165 set on September 1, 2020. With over 2.87 million holders, SHIB still commands one of the largest retail investor bases in the cryptocurrency space, a factor that continues to drive its long-term relevance.
Community Resilience and Key Support Levels
Despite the slight dip, Shiba Inu remains within its current support range. The $0.000012 level appears crucial in maintaining short-term bullish sentiment. If SHIB can hold above this zone, traders might see a quick rebound. However, a break below it could pave the way for further consolidation.
Related article: Shiba Inu (SHIB) Slips, But Shibarium and BONE Keep Hope Alive
For now, the meme coin’s resilience and loyal community remain its greatest strengths. With trading volumes cooling, market participants are watching closely to see if Shiba Inu can stage another run or if it’s setting up for a quiet weekend.
