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Shiba Inu (SHIB) has lost a key support level, says Ali Martinez in a recent price outlook for the popular meme-inspired cryptocurrency. The next major support zones to watch are $0.000011 and $0.000008 per SHIB, predicts Martinez.
Right now the meme coin is trading at $0.0000155. If SHIB is indeed to fall to the levels outlined by Martinez, it could mean a drop worth from 29% to 48.5%, which is an awful lot. Last time the Shiba Inu meme coin was trading this low was in November 2023 and August 2024. Right now we are in February 2025 for a reminder.
Arman ShirinyanShiba Inu continues to be the second biggest meme cryptocurrency, even though it may seem a bit irrelevant with all the meme coins appearing. But it might be the community power or someone using the token for manipulations that allow SHIB to stay afloat.
No matter what, SHIB continues to amass $9.17 billion in market cap, and if the dip predicted by Martinez is to happen, it would erase from $2.66 billion to $4.44 billion — an inexcusable amount of money.
Tomiwabold OlajideMore to it, the questions regarding the Shiba Inu coin's relevancy persist and grow from day to day. Once it was the "DOGE killer," then it was the main meme coin on Ethereum — a role that was taken by PEPE. Now, it sort of reflects the price action of the main altcoin, but with every look at the rankings of crypto assets you can see how lower and lower SHIB goes.
The drop forecast by Martinez may not be pocket change, but turn out as a massive blow, one that could shake confidence in the token’s ability to stay relevant in an increasingly saturated meme coin market.
Dan Burgin
Vladislav Sopov