Victoria Bazir
Meme coin traders were taken by surprise when Shiba Inu (SHIB) suddenly crashed toward $0.0000069 before staging a rapid recovery above $0.0000105. The dramatic price action has sparked heated discussions about whether these sharp dips represent genuine buying opportunities or warning signals of deeper market instability.
Shiba Inu's Flash Dip Catches Traders Off Guard
The volatile move, first spotted by analyst $SHIB KNIGHT, sent shockwaves through the trading community. The chart reveals several critical patterns worth noting. A flash crash dragged SHIB down to $0.0000069 before buyers stepped in aggressively.
The current price has stabilized around $0.00001056, marking an 8% gain from the session low. Resistance remains stubborn in the $0.000015–0.000020 range where SHIB has previously struggled to break through. Meanwhile, support appears to be forming at $0.0000100 for the near term, with $0.0000070 serving as a more critical floor.
What Triggered the Sudden Drop?
Several factors likely contributed to this price action:
- Whale activity: Large sell orders from major holders can trigger cascading price drops in meme coin markets
- Broader crypto weakness: General market volatility spread into SHIB, amplifying price swings
- Leverage liquidations: Overleveraged positions in derivatives markets intensified the sell-off as traders got wiped out
What's Next for Shiba Inu?
For SHIB to build sustainable bullish momentum, it needs to maintain ground above $0.0000100 and eventually push through resistance at $0.000015. If that support fails, traders should watch for another test of the $0.0000070 level. Short-term speculators will likely stay active around these levels, while longer-term holders might want to exercise caution given the extreme volatility.
Victoria Bazir
