Shiba Inu (SHIB), a popular meme coin in the crypto world, recently experienced a significant drop in value, leaving investors concerned. The current price of SHIB stands at $0.00002275, with a market capitalization of $13.40 billion. Despite a recent 40% drop from its all-time high of $0.00008819, SHIB has seen a 1.82% increase in price over the past 24 hours. With a bearish market sentiment and a Fear & Greed Index indicating “Greed”, many are wondering if SHIB will recover or crash to zero.
Historically, key support zones like the one SHIB is currently at can act as a psychological barrier for traders, potentially leading to stabilization or a rebound in prices. Large transaction volumes and whale activity have seen a significant increase in the past 24 hours, with $76.48 million in capital inflows. This suggests strategic buying from major investors, indicating confidence in the token’s future. The ongoing whale activity could contribute to price stabilization and potential recovery over the next week.
Shiba Inu’s plans to expand its social and DeFi platforms could attract both retail and institutional investors. The increasing adoption of its DeFi services could boost demand for SHIB, counteracting sell pressure and reducing the likelihood of a crash to zero. Technical analysis shows that SHIB’s current price aligns with a key support zone, reducing the probability of a crash. However, breaching this support could lead to further declines.
In the short term, if whale activity continues and market sentiment remains stable, SHIB could consolidate between $0.000005000 and $0.000008000. In the mid-term scenario, with expected ecosystem updates, SHIB’s price could experience a 32% increase to $0.00003 by 2024. Analysts also believe SHIB could challenge its all-time high of $0.00008819 by early 2025, reaching approximately $0.000045 with a 15% quarterly growth rate.
Despite the inherent risks of speculative assets like SHIB, a crash to zero seems unlikely in the near term. Factors such as whale support, ecosystem expansion plans, and market sentiment suggest that SHIB’s value will likely remain above critical support zones. The token’s future performance will depend on sustained whale activity, ecosystem updates, strong community support, developer activity, and broader market recovery. Overall, while risks exist, the potential for price increase in the mid to long term makes a crash to zero improbable.
