Shiba Inu price analysis: plummeting amid Bitcoin correction
The latest data shows that Shiba Inu ($SHIB) almost fell 5% in the last 24 hours,transaction $0.00001216as seen in the attached chart. This decline is in line with the decline in Bitcoin. Recent high was $126,000 around 122.5 thousand dollarswhich caused short-term volatility in the overall meme coin market.
SHIB/USD 1-day chart and BTC/USD performance – TradingView
On the charts, SHIB is struggling below both charts. 50 day moving average line and 200 day moving average line (SMA is $0.00001261 and $0.00001293), indicating resistance pressure. Recent attempts to break out of these levels have been rejected and marked by downward candlestick formations, highlighting that bearish sentiment remains active.
Shiba Inu falls to 22nd place in market capitalization
According to Latest rankingShiba Inu is now Ranked 22nd among the largest cryptocurrencies by market capitalizationunder projects such as Mantle (MNT) and UNUS SED LEO (LEO). and Market capitalization is $7.17 billionSHIB’s position reflects investors’ rotation into better performing assets during Bitcoin’s retracement phase.
Despite the development of a large community and ecosystem, SHIB continues to experience high volatility. This is a common characteristic of many communities. meme coinsentiment changes rapidly based on Bitcoin’s trajectory and broader market momentum.
Meme Coin: Volatility Factor
like meme coin $SHIB, $Dogeand $PEPE They grow in hype cycles and often move faster than the broader cryptocurrency market. When Bitcoin rises, meme coins tend to temporarily outperform, but corrections usually take a bigger hit. SHIB’s 5% daily decline is a reminder of how sensitive such tokens are to Bitcoin price fluctuations and speculative trading volumes.
For SHIB, the key short-term support level is approximately $0.00001200. A breakdown below this could pave the way for the next. $0.00001150during the above recovery $0.00001290 (200-day SMA) Bullish momentum may be reignited.
SHIB Price Prediction: What happens next if Bitcoin recovers?
If Bitcoin rebounds upwards $125,000, Shiba Inu can easily retest $0.00001300 to $0.00001350 Buoyed by renewed optimism across altcoins. In a scenario where the bull market becomes more bullish and continues, SHIB $0.00001500 Resistance Zone – The next major target seen on the chart.
However, if Bitcoin consolidates or widens its decline towards $120,000, SHIB could remain within the range below. $0.00001200 and $0.00001270traders are waiting for clearer signals.
The future of the Shiba Inu: Perseverance under pressure
Shiba Inu’s recent performance reflects a broader cryptocurrency correction phase. Although it has fallen down the rankings, its strong community, upcoming ecosystem utility, and exposure to Bitcoin cycles suggest it could recover once the market regains momentum.
For now, the key lies in the direction of Bitcoin. Bitcoin’s next move will determine whether that happens or not. $SHIB It will either rebound or continue to consolidate near current levels.
