{"id":3152,"date":"2025-06-17T16:14:57","date_gmt":"2025-06-17T16:14:57","guid":{"rendered":"https:\/\/bitunikey.com\/news\/shiba-inu-price-crashes-as-it-eyes-a-crucial-support\/"},"modified":"2025-06-17T16:14:58","modified_gmt":"2025-06-17T16:14:58","slug":"shiba-inu-price-crashes-as-it-eyes-a-crucial-support","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/shiba-inu-price-crashes-as-it-eyes-a-crucial-support\/","title":{"rendered":"Shiba Inu price crashes as it eyes a crucial support"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Shiba Inu price continued its strong downtrend this week, even as its token burn rate surged by over 800%.<\/p>\n<p>Shiba Inu (SHIB) token plunged to a low of $0.00001160, its lowest level since April 9. It has dropped by 35% from its recent peak on May 12.<\/p>\n<p>SHIB price dropped because of the ongoing crypto market crash<strong> <\/strong>that has pushed Bitcoin and most altcoins lower.\u00a0<\/p>\n<p>The sell-off intensified as whales dumped their SHIB holdings. According to Nansen data, whale holdings have declined by over 80% in the last 12 months to 34 billion tokens. Similarly, smart money holdings have fallen by over 35% to 13.1 billion during the same period.<\/p>\n<p>Shiba Inu\u2019s ecosystem is also under pressure. Shibarium\u2019s total value locked (TVL) has dropped by 23% over the past 30 days to $2.6 million. Its <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/defillama.com\/chain\/shibarium\" target=\"_blank\">total value locked<\/a> remains significantly smaller than more established layer-2 networks like Arbitrum, Polygon, and Base.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>ShibaSwap, the biggest player in Shiba Inu\u2019s ecosystem, has lost market share. Artemis <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/app.artemis.xyz\/application-activity\/ethereum\/application\/shibaswap?cameFrom=onchainExplorer\" target=\"_blank\">data<\/a> shows that the number of transaction users dropped to 89 from a high of 374 in March. Similarly, the number of daily transactions has dropped to 141, down from 937 in March.\u00a0<\/p>\n<p>On the positive side, Shiba Inu\u2019s daily token burn rate surged by 809% on Tuesday, rising to over 17.69 million SHIB. Token burns reduce circulating supply and are generally seen as a bullish signal by long-term investors.<\/p>\n<h2 class=\"wp-block-heading\">Shiba Inu price technical analysis<\/h2>\n<figure class=\"wp-block-image size-full\"><picture loading=\"lazy\" decoding=\"async\" class=\"wp-image-14389568\"><source type=\"image\/webp\" ><\/source><\/p>\n<\/picture><figcaption class=\"wp-element-caption\">SHIB price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>The daily chart shows that SHIB has been in a sustained downtrend over the past few weeks, falling from its May high of $0.00001765 to its current level near $0.00001150.<\/p>\n<p>SHIB has broken below both the 50-day and 100-day moving averages. Most notably, the price is nearing its year-to-date low of $0.00001030.<\/p>\n<p>Technically, SHIB appears to be forming a potential double-bottom pattern, with the neckline at $0.00001765. If the bearish momentum continues, SHIB may test the support level at $0.00001030. A successful hold could trigger a bounce back toward resistance at $0.00001765.<\/p>\n<p>However, a drop below the year-to-date low of $0.000010 would invalidate the double-bottom pattern and suggest further downside ahead.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Shiba Inu price continued its strong downtrend this week, even as its token burn rate surged by over 800%. Shiba Inu (SHIB) token plunged to a low of $0.00001160, its&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/3152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=3152"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/3152\/revisions"}],"predecessor-version":[{"id":3154,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/3152\/revisions\/3154"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/3153"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=3152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=3152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=3152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}