- Shiba Inu (SHIB) price crashes below $0.00001 as its ‘Fifth Zero’ returns
- Roughly 138 billion SHIB were moved to exchanges during the big price drop, a signal many interpret as holders preparing to sell amid increased bearish pressure
- The SHIB ecosystem marketing lead, Lucie, attempted to stem panic with a message to the community
Shiba Inu declined more than 8.5% in a recent period, with its price falling to $0.000009351 (at the time of writing, it jumped to around $0.000009609).
The SHIB ecosystem marketing lead, Lucie, attempted to stem panic with a message to the community, comparing SHIB to a race car making a U-turn. She said: “SHIB is scarred by the past yet unstoppable in the future. Every setback carved the path forward.”
Roughly 138 billion SHIB were moved to exchanges during the big price drop, a signal many interpret as holders preparing to sell amid heightened bearish pressure.
Technical analysis warns that the $0.0000100 level is critical. If SHIB closes below that, further downward pressure may follow.
Just days earlier, SHIB had erased a zero during a bounce. After crashing to a price floor of $0.00000850, it briefly recovered above the $0.00001 mark, which indicates some resilience.
SHIB’s recent decline
The price decline took place at the same time as a widespread liquidation event across the cryptocurrency market that suffered a major crash this month. Namely, it registered a record-breaking sell-off, wiping out more than $19 billion in leveraged bets in a short span.
The collapse was partly set off by Trump’s announcement of 100% taxes on Chinese imports, which caused a sudden panic that rippled through the futures market and hit highly leveraged altcoin investments.
In just one day, over $1 billion in trader positions were forcefully closed, with Bitcoin, Ethereum, and other large altcoins seeing the biggest losses.
Related: Shiba Inu Price Prediction: SHIB Slides as Key Support Faces Fresh Selling Pressure
On the positive side, SHIB continues to burn tokens and maintain community activity. However, these efforts may not be enough to counteract the large number of tokens in existence, especially when the wider economy is struggling.
At the same time, the Shiba Inu team continues developing its ecosystem, with renewed focus on Shibarium, the project’s Layer-2 network. Last month, it surpassed 420 million total transactions and continues to attract new dApp developers and liquidity providers.
The team has also hinted at upcoming AI integrations and metaverse expansions, suggesting long-term ambitions that extend well beyond meme coin status. These ecosystem updates may help restore investor confidence once market conditions stabilize.
Related: Shiba Inu Team Pushes ETF Case, Eyes Shibarium Growth and BONE Demand
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Source: https://coinedition.com/shib-crash-fifth-zero-returns-138-billion-exchange-dump/
