Shiba Inu (SHIB) Slumps Below Crucial Support to a 3-Month Low: What’s Next?

TL:DR;

• The whole cryptocurrency market has turned crimson on a day by day scale, however as regular, most meme cash have slumped lots tougher.
• Shiba Inu is among the many poorest performers, having dumped by 11% inside the previous 24 hours to a multi-month low. What’s much more worrying is that SHIB is presently under an important assist line.

The second-largest meme coin rode the post-election bull cycle in a formidable method, going from round $0.000016 to a multi-month excessive of nicely over $0,000033. Thus, it doubled its valuation inside a month, as its peak got here on December 8.

Nonetheless, it failed to keep up its momentum, although property like BTC, XRP, ADA, XLM, and DOGE saved climbing and began to lose worth step by step.

Actually, its 2025 peak, which got here on January 18, was at $0.000025 – 25% decrease than the excessive reached in late 2024. The next week was additionally turbulent and antagonistic for SHIB, maybe as a result of TRUMP token mania, as its worth slumped additional to $0.0002. At one level, it even lost its spot because the second-biggest in its discipline to the meme coin launched by the US president.

Regardless of the latest bullish predictions, the previous 24 hours introduced much more ache for SHIB. Alongside the rest of the market, the self-proclaimed Dogecoin killer dumped by 11% to its lowest ranges since early November of beneath $0.000018.

This decline may carry much more significance because it drove SHIB under a ‘vital’ assist line. In accordance with in style crypto analyst Ali Martinez, that essential stage for SHIB’s worth momentum stands between $0.0000185 and $0.0000212.

The asset has slumped under each now, and it is going to be key to see whether or not it’ll shut the day in such an unfavorable spot, which may set off much more ache for the SHIB bulls.

The $0.0000185 to $0.0000212 vary stands as probably the most vital assist zone for #ShibaInu $SHIB! pic.twitter.com/mKXcYtvqS1

— Ali (@ali_charts) January 27, 2025