Shiba Inu (SHIB) has seen a sharp decline, dropping 11% in the last 24 hours to hit its lowest point in three months.
The broader cryptocurrency market is in the red, but meme coins like SHIB have been hit especially hard.
Shiba Inu had a strong post-election run, doubling its value from $0.000016 to over $0.000033 in just one month, peaking on December 8, 2024.
However, it failed to maintain this momentum as other assets continued to rise. Its 2025 peak on January 18 was 25% lower than its late-2024 high, and it continued to lose value throughout January.
The latest drop has pushed SHIB below a critical support range of $0.0000185 to $0.0000212, a key level for its price stability.
Crypto analyst Ali Martinez highlights that if SHIB closes the day below this level, it could signal further declines.
With SHIB at its lowest level since early November, traders are closely watching whether it can recover or if the downtrend will continue. The coming days will be crucial for determining SHIB’s short-term future.
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