SHIB News: Shiba Inu Drops Out of Top 15 Cryptocurrencies Amid Market Turbulence

Shiba Inu (SHIB) has recently faced a significant decline, dropping out of the top 15 cryptocurrencies by market capitalization. This article delves into the factors contributing to this downturn, including price drops, market cap reductions, and the community's efforts to stabilize the token's value.

Shiba Inu Drops Out of Top 15 Cryptocurrencies

Shiba Inu (SHIB) has experienced a significant decline, falling out of the top 15 cryptocurrencies by market capitalization due to recent market turbulence. Over the last 24 hours, SHIB's price decreased by 9.18%, trading at $0.00002095. The market cap also fell by 7.35% to $12.67 billion, despite an 11% increase in trading volume, reaching $964.26 million. The SHIB community has been actively burning tokens to reduce supply and potentially increase price, with 66.15 million SHIB tokens burned in the past week. However, these efforts have not yet positively impacted the market price, as SHIB continues to trade below key resistance levels.

Shiba Inu wavers: As SHIB loses top spot to THIS memecoin, what’s next?

Shiba Inu (SHIB) experienced a bearish performance last week, failing to exit its four-week consolidation zone due to heavy sell pressure over the weekend. The memecoin struggled with weak demand, leading to a retracement and loss of its silver position in the memecoin rankings. At press time, SHIB was trading at $0.000020, having given up the gains achieved last week. The coin rallied by 26% from last week’s lowest to highest price level but faced a pullback, retesting its short-term support level. SHIB was down by roughly 8% in the last 24 hours, wiping out almost all the gains achieved.

Shiba Inu Chart Shows 9% Surge, Targeting $0.00023 in Price Rally

Shiba Inu’s price jumped 9% following a brief market dip. Several experts have spotted signs of a major cryptocurrency price rally ahead. Multiple SHIB price predictions show promise as the token recovers from its 3.17% drop. Various market analysts believe Shiba Inu will continue its upward trend. Technical analysis points to a breakout, with multiple market watchers identifying a distinctive pattern on Shiba Inu’s monthly price chart emerging around August 2024, starting near $0.00001083. By mid-December, several key indicators showed SHIB reaching approximately $0.00003341, pointing to various signs of a substantial cryptocurrency price rally.

Shiba Inu Projected To Reach $0.003: Here’s When

Shiba Inu is currently trading at the $0.00002 mark and is moving sideways in the indices this year. The token started 2025 on the back foot with little to no price spurts in January. It’s mostly consolidating in price and could experience a leg-up when Trump takes office on January 20, 2025. A new price prediction estimates that Shiba Inu could reach $0.003 much earlier than expected. Both the stock and the cryptocurrency market are expected to boom after Trump takes office next week. Investors believe that Trump’s presidency could usher into a new financial era in the US. Taking things into consideration, a new forecast predicts Shiba Inu to hit $0.003 by the end of the next decade. The bullish prediction stems from a stronger US market.