Shiba Inu Price Crash: Can SHIB Hold $0.000005 After 16% Plunge?

A sudden wave of selling has wiped out weeks of gains for one of crypto’s best-known memecoins. The latest Shiba Inu price crash saw SHIB tumble more than 16% in a matter of sessions, as traders across both spot and derivatives markets rushed to unwind positions. The drop raises a pressing question for holders: is this just a routine pullback, or the start of something deeper?

Key takeaways

• SHIB fell 16.13%, sliding from around $0.0000062 to near $0.0000052 before a shaky rebound toward $0.0000053.
• Spot trading showed a 0.4 trillion token imbalance, with sell volume of 3.8 trillion tokens outweighing buy volume of roughly 3.4 trillion.
• Derivatives markets posted a negative perpetuals delta of approximately 50 billion tokens, alongside a futures netflow of roughly negative $833,000.
• Bulls now need to defend the $0.000005 support level and reclaim $0.0000060 to rebuild recovery momentum.

Shiba Inu Suffers a Sharp 16% Price Decline

Shiba Inu’s rally ran out of steam almost as quickly as it began, triggering a swift reversal that erased days of upward momentum. SHIB had been climbing toward $0.0000062 when sellers abruptly took control, and the token printed two consecutive red daily candles as the retreat accelerated.

… Continue reading the full article at the original source below.