SHIB Price Plunge: Has the Meme Coin Lost Its Magic? 🚨

# SHIB Price Plunge: Has the Meme Coin Lost Its Magic? 🚨

SHIB
$0.000015

24h volatility:
4.9%

Market cap:
$8.73 B

Vol. 24h:
$169.57 M

has limped beneath its once-proud $0.000015 support level 😢, the first time in this fresh year of 2025. The meme coin is now licking its wounds around $0.00001485—down 5% in just one dramatic day! Like a dog chasing its tail, SHIB’s price slump mirrors a 66% nosedive in its burn rate, according to Shibburn data. That fire? Well, it’s barely a sizzle right now 🔥.

Just 15.1 million SHIB tokens found their fiery end in the past 24 hours—blink-and-you’ll-miss-it levels of burning. With this slowdown in token barbequing, it’s no wonder prices are clambering down like a clumsy pup on a staircase.

Historically, $0.000015 served as a mighty fortress 🏰 for SHIB. But with bullish energy weaker than lukewarm coffee and a crypto market wobblier than a plastic bridge, the fortress has fallen. Meme coins, once the jesters of the crypto court, are now caught in a scandal—ahem—the LIBRA token controversy. The mop of meme coin investors now stares at a shrunken sector worth just $62.9 billion, down a gloomy 37%.

Specifically, SHIB holders have witnessed a colossal 55% market cap drop since December, now standing at $8.76 billion. Ouch.

SHIB Price Analysis 🐾

The daily SHIB price chart offers some interesting tales. The Relative Strength Index (RSI) is pacing back and forth at 37, tiptoeing dangerously close to the oversold zone. This awkward shuffle gives hope for a relief bounce—think of it like when your dog realizes it can still chase that squirrel. Yet, with RSI still floating above 30, there’s weirdly more room for this tumbleweed to roll further downhill 🌪️.

At the same time, here’s some fun (not really): SHIB is flirting with the lower Bollinger Band, a strong sign of overworked selling pressure. Should the coin decide to camp below the band, imagine it setting up for further price drops—because that’s what we might get.

If SHIB insists on its breakdance to the downside, it’s eyeing $0.0000135 next. Beyond that lies an even steeper cliff at $0.000012. On a happier note (yes, it does exist), a bullish comeback would mean crawling back above $0.000015—no easy feat—and climbing toward the middle Bollinger Band at $0.0000168. Keep those paws crossed. 🐕

Analyst Thinks SHIB Could Still Party 🎉 (Eventually)

Crypto seer Javon Marks believes the SHIB story isn’t heading for a tragic end just yet. Taking to the mega-buzzing world of X, Marks highlighted a hopeful pattern—the Inverse Head & Shoulders. For those unfamiliar, it’s a bullish reversal signal… sort of like rediscovering an old chew toy buried under the couch cushions 🛋️.

Source: JAVON MARKS / X

His crystal-ball reading? If this pattern waves the green flag, SHIB could see a firework-filled rally 🎆 toward $0.000081, a jaw-dropping 400% leap higher. It’s the kind of dream meme coin holders live for while staring at sad charts. 🐾✨

2025-02-24 15:58

SHIB Price Analysis 🐾

Analyst Thinks SHIB Could Still Party 🎉 (Eventually)

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