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Shiba Inu Price Battles Support Levels With Bulls Eyeing a 400% Surge

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6 hours ago

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Shiba Inu (SHIB) price is facing a challenging market environment as bearish trends dominate the meme coin. Over the past month, SHIB price has experienced a decline, reflecting concerns within the crypto market. Despite temporary rebounds, the token has struggled to maintain upward momentum, with key technical indicators suggesting persistent selling pressure. 

However, some analysts believe that an emerging bullish pattern could signal a major reversal, with projections suggesting a potential 400% surge if key support levels hold.

Shiba Inu Price Drops, Analysts Spot Signs of a Possible Reversal

According to a recent analysis, Shiba Inu price has seen a drop of 29% over the past month, reflecting the overall downtrend in the crypto market. Currently trading at $0.00001476, SHIB’s market capitalization stands at approximately $8.7 billion. Despite a slight rebound in the past 24 hours, the general market sentiment around SHIB remains bearish. 

Large transactions on the Shiba Inu network have decreased by over 80% in the last 12 weeks, indicating a lack of trust among major investors.

On the other hand, analysts have pointed to the emergence of a potential Inverse Head & Shoulders pattern. This pattern could indicate a reversal in the meme coin price direction. If this pattern holds, SHIB could experience a 400% surge, bringing its value to around $0.000081.

However, experts caution that such projections must be interpreted carefully, given the overall uncertainty in the meme coin market.

More so, the latest burn activity has fueled optimism among traders anticipating a 300% meme coin rally. A 120.3% increase in the weekly burn rate suggests reduced supply, which could drive demand higher. If momentum sustains, Shiba Inu price may attempt a breakout.

Technical Indicators Suggest Bearish Momentum

Shiba Inu price drop coincides with an 80% decline in large whale transactions over the past 12 weeks. This sharp decrease in whale participation is a sign of declining confidence in Shiba Inu, which could further contribute to short-term market instability. As the crypto market faces broader bearish trends, SHIB’s ability to maintain its levels at critical support levels is crucial for its recovery.

From a technical perspective, the Bollinger Bands have widened, signaling increased volatility in SHIB price action. The price is currently below the middle band, which typically suggests a bearish market momentum. 

Additionally, the MACD indicator remains in negative territory, with the MACD line positioned below the signal line, reinforcing the downward trend. The histogram also shows a continued decline in bullish momentum. These indicators point to the continued pressure on SHIB price, although the lower Bollinger Band could support buying recovery.

SHIB PriceSHIB Price
Source: TradingView

Meme Coin Must Defend $0.000011 Support

The price of Shiba Inu faces a critical test as it approaches essential support levels. The primary support level at $0.000011 has become a key threshold for SHIB’s short-term future. A break below this support could lead to a further decline in the meme coin price. Conversely, if SHIB can hold above this support level, there may be an opportunity for the bulls to re-enter, and a reversal could be possible.

With the broader market facing bearish pressure, SHIB’s ability to stabilize and defend key levels will determine whether the top meme coin can rebound or face further losses. 

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Why BTC Plunged To $90K & Altcoins Followed?

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2 hours ago

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February 25, 2025

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Crypto Prices Today (February 25): The broader market action set off severe investor concerns on Tuesday, showcasing an alarmingly slumping trajectory. Bitcoin (BTC) price hit a $90K low in the past 24 hours, whereas Ethereum (ETH) slipped below $2,500. XRP and Solana prices tanked 8%-13% intraday, mimicking the broader market trend. This waning action mainly aligns with Donald Trump’s recent tariff announcement for Canada & Mexico and massive liquidations.

Crypto Prices Today: Here’s Why BTC & Altcoins Were Down

Notably, Donald Trump recently stated that U.S. import tariffs on Canada and Mexico ‘will go forward’ following a 30-day halt put earlier. As per recent reports, the halt is set to expire as soon as next week. In light of this macroeconomic development, global markets are taking heat amid trade war speculations.

Simultaneously, the cryptocurrency market lost nearly 5% amid this development, with the market slipping below the $3 trillion mark during early Asian hours on Tuesday. Further, the market also recorded a whopping $887.85 million liquidated in the past 24 hours. In turn, BTC & leading altcoins reacted concerningly bearish to these broader trends.

Bitcoin Hits $90K Low Intraday As Crypto Prices Face Heat

Although BTC price rested at $92,152 as of press time, CoinMarketCap’s data highlighted a $90,924.90 bottom for the token intraday. This alarming price drop comes against the backdrop of $271.69 million worth of liquidations for the coin in the past 24 hours. Despite its price dip, BTC’s dominance was up by 0.94% to 61.16%, signaling more heat within the altcoins sector.

ETH Loses $2,500

ETH price witnessed an 8% crash in the past 24 hours and closed in at $2,490. The coin hit a bottom and peak of $2,461.52 and $2,735.15 in the past 24 hours. Ethereum’s waning action reflects $192.53 million liquidated in the
past 24 hours, per Coinglass data. The second largest crypto by market cap saw its dominance slipping back to 10.1% today.

XRP Price Loses 8%

XRP price plunged 8.5% over the past day and exchanged hands at $2.26. The Ripple-backed asset hit an intraday low and high of $2.23 and $2.50, respectively. XRP recorded $38.25 million worth of liquidations in the past 24 hours, rationalizing the price fall.

Solana Price Crashes 14%

Meanwhile, SOL price cracked by 14% as of press time, remaining at $137.19. The coin hit a bottom and peak of $136.88 and $161.61, respectively. Solana slumped as $90.60 million was liquidated in the background, bringing heat to its price.

Meme Crypto Prices Today

Dogecoin (DOGE) witnessed a 10% dip in value today, closing in at $0.2077. Even Shiba Inu (SHIB) lost 8% to reach $0.00001367. Other than dog-themed meme coin prices crashing, even PEPE and TRUMP lost 13%-15%, standing at $0.000007818 and $13.10, respectively.

Top Gainer Crypto Prices Today

Nevertheless, some tokens have defied the broader market slump today:

Story (IP)

Price: $4.72
24-Hour Gains: +20%

DeXe (DEXE)

Price: $19.11
24-Hour Gains: +4%

FTX Token (FTT)

Price: $1.91
24-Hour Gains: +1%

Top Loser Crypto Prices Today

Hyperliquid (HYPE)

Price: $18.58
24-Hour Loss: -16%

Sonic (S)

Price: $0.7257
24-Hour Loss: -15%

LidoDAO (LDO)

Price: $1.37
24-Hour Loss: -15%

Meanwhile, traders and investors remain cautious, reflecting uncertainty about future movements amid broader developments. It is yet to be seen if prices will take further heat, given that the U.S. import tariffs commence next week with burgeoning trade war speculations.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Solana Price Could Drop To $109 As Whale Move $127M SOL

Published

7 hours ago

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February 25, 2025

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While Solana price spirals downward, whales are moving sizable amounts of SOL, sparking fears of a selloff. On the flip side, analysts say the move could be a trigger for an accumulation spree amid prolonged bearish sentiments. 

Whale Moves $127 Million Worth Of Sol TO Unknown Wallet

A Solana (SOL) whale has transferred 846,613 SOL to an unknown wallet in a single transaction amid falling asset prices. With Solana price hovering around the $150 mark, the transferred assets are valued at a hefty $127 million, spiking SOL’s daily trading volumes.

While the sizable transfer appears to have gone under the radar, investors say the move could have far-reaching consequences for the beleaguered asset.

A majority of traders are viewing the $127 million transfer as preliminary moves for a sell-off given prevailing sentiments. Only a handful of investors see the transfer as an accumulation play ahead of a market breakout.

Solana Price Continues To Fall

Onchain data indicates SOL has lost 11% in under 24 hours to settle at the $152 mark. Since the asset reached its peak of $294 at the start of the year, it has shed 49% of its value in less than a month. 

SOL’s market capitalization of $75.4 billion manages to keep it among the top cryptocurrencies by valuation. However, underlying metrics remain grim as it plays second fiddle to Ethereum in DEX weekly volumes.

Solana Price Could Drop To $109 As Whale Move $127M SOLSolana Price Could Drop To $109 As Whale Move $127M SOL

Solana network fees and memecoin activity have also taken a hit in recent weeks while the number of active Solana users fell to its lowest level in five months. 

SOL Expected To Slip Even Further

Amid the unsavory metrics for SOL, chances for a break out remain unlikely for the asset. For starters, the Solana price descent has seen it fall below the 50-day and 200-day moving averages, setting the stage for a bearish death cross pattern.

MACD and the Relative Strength Index (RSI) are painting a depressing picture for SOL with indicators tipping prices to reach $109. Optimists are pining for the Securities and Exchange Commission (SEC) to approve a spot Solana exchange-traded fund (ETF) expected to reverse the bearish trend.

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Aliyu Pokima

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Everything You Need to Know

Published

11 hours ago

on

February 24, 2025

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US rapper Kanye West is reportedly set to launch a meme coin by the end of the week. Dubbed $YZY, the coin is expected to provide holders with some utility while guarding against price drops.

A Flurry Of Activity Around The Kanye West Memecoin Launch

While details around the Kanye West meme coin remain sparse, insiders say the project is steamrolling ahead. According to reports, $YZY will operate as the official currency for the Yeezy brand and website amid the recent backlash against the rapper. 

Following the alleged anti-semitic rhetoric by Kanye West, Shopify shut down his online store, forcing the rapper to explore digital assets. Per the internal documents, $YZY will be accepted as payment on the rapper’s website, providing an alternative to mainstream platforms.

Sources say 70% of the Kanye West memecoin is earmarked for the rapper, while 20% will go to investors. 10% of the tokens will be deployed for liquidity provisioning, an attempt to mirrorthe  tokenomics of top meme coins like Dogecoin. 

A Botched Launch For $YZY

Originally scheduled for launch on February 20, $YZY has hit a series of stumbling blocks. For starters, the rapper has deleted previous posts on X alluding to the launch of the meme coin.

The 47-year-old rapper has also taken down conversations involving Binance founder Changpeng Zhao linked to the incoming $YZY. Public enthusiasm for the project waned after Kanye West adopted a Nazi stance with the proposed launch of “Swasticoin.”

For now, it remains unclear if the Kanye West meme coin will see the light of day. A Polymarket bet has been launched, with 36% predicting that the rapper will roll out a coin before the end of February.

Sentiments Have Changed For The Kanye West Memecoin

Following delays and erratic posts on X, optimism among investors has been dampened for $YZY. Kanye West disclosed on the social media platform that he no longer has control of his X account, but a cross-section of users are chalking it up to the rapper’s eccentricity.

The high-profile price slump of the scam $LIBRA token linked to the Argentine President has left investors with a sour taste in their mouths. Despite negative sentiments, investors are still scanning the horizon for early access to a Kanye West meme coin.

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Aliyu Pokima

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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