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CoinGape 2025-02-08 09:40:35

Is it Time for Shiba Inu Price to Rally as New Meme Coins Crash 90%?

Is it Time for Shiba Inu Price to Rally as New Meme Coins Crash 90%?

As the crypto market experiences turbulence, the Shiba Inu price remains near $0.000015, struggling to gain momentum amid widespread corrections. Bitcoin’s drop below $97,000 has fueled uncertainty, pressuring altcoins. Meme coins continue to decline, with newer tokens losing up to 90%. Shiba Inu faces resistance, leaving investors questioning whether it can stage a breakout or succumb to broader market weakness in the coming days. Is Shiba Inu Price Set to Soar While New Meme Coins Collapse 90%? The meme-based market is witnessing volatility. Its market cap is $3.13 trillion, reflecting a 1% dip in the past 24 hours. Established meme coins like Dogecoin, Pepe, and Bonk have declined amid the broader market downturn. Meanwhile, WIF has taken a sharp 90% plunge, mirroring losses seen across newer meme coins. The meme coin market has lost $44B in the past three weeks. Recently launched tokens like TRUMP, MELANIA, and PENGU have struggled following an earlier market rally. The crypto market often runs on narratives, and with new meme coins faltering, older meme assets may regain traction. This shift could see established names like Dogecoin and Shiba Inu reenter the spotlight. As sentiment shifts, is it time for Shiba Inu’s price to rally once again? SHIB Price Eyes Breakout: Key Levels Signal Potential Rally Ahead The Shiba Inu price shows signs of a potential breakout after reclaiming key technical levels. A sharp rebound from the last quarter’s low indicates renewed buying interest, with the asset now targeting a critical resistance zone. If the price is above this level, the market could see a stop-run scenario, leading to a significant upside. Technical analysis suggests that reclaiming the mid-range level will confirm bullish momentum, potentially driving SHIB toward a new local high. SHIB Price Analysis: Key Levels to Watch as Market Consolidates Shiba Inu price continues to trade within a tight range after experiencing a sharp drop. The SHIB price is currently hovering around $0.00001525, with immediate support at $0.000014. This level has previously acted as a bounce zone, preventing further declines. If SHIB loses this support, it could drop to $0.00001200, where buyers may step in to absorb selling pressure. On the upside, the Shiba Inu price prediction faces resistance at $0.000016, which aligns with its recent consolidation range. A breakout above this level could open the door for a rally toward $0.000018. Beyond that, the next major resistance is $0.00002, a crucial profit-taking zone for traders. If bullish momentum builds, the $0.00002500–$0.00002600 range could be an extended target. The RSI currently sits around 43.72, indicating that SHIB is in neutral territory. Shiba Inu Price: TradingView Shiba Inu price hovers near key support as new meme coins crash 90%, raising questions about a potential rebound. A support bounce at $0.000014 signals renewed interest, with SHIB eyeing a breakout above $0.000016. If momentum builds, targets extend to $0.000018 and $0.00002, potentially fueling a stronger rally. The post Is it Time for Shiba Inu Price to Rally as New Meme Coins Crash 90%? appeared first on CoinGape .

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