Shiba Inu’s price dropped almost 2% over the past day, landing around $0.0000058. This continues a recent downward trend that has brought the token’s value below the important $0.000006 mark.
Most cryptocurrencies are down in value today and over the past week. This decline is largely due to rising U.S. Treasury yields and a strengthening dollar, which are impacting investments considered risky, like cryptocurrencies and stocks of companies involved in crypto. Shares of companies like Circle Internet, Coinbase, and MicroStrategy (MSTR) are also down before the market officially opens.
Over the past 24 hours, the cryptocurrency market has experienced significant losses, with over $268 million in positions liquidated, according to CoinGlass. Roughly 85% of these liquidations were from traders who bet prices would rise (long positions).
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Traders who predicted prices would go up – known as ‘long’ positions – have faced losses of $222 million due to the recent market drop. Meanwhile, traders who bet on prices falling – ‘short’ positions – have profited by $45 million.
Shiba Inu’s price has been falling steadily since March 24th, which was the last day it saw a price increase.
As a crypto investor, I’ve noticed Shiba Inu’s trading volume has been going down lately. Over the past 24 hours, it’s dropped about 16.63% to $88.77 million, according to CoinMarketCap. We saw a similar decrease in trading activity yesterday too.
Shiba Inu to recover?
Shiba Inu’s price has been falling since reaching $0.00000627 on March 25th, and today marks the third straight day of declines.
Shiba Inu’s price fell on Thursday, dropping below the 50-day moving average – a level that has consistently prevented the price from going higher since January.
On Thursday, the price of SHIB dropped to $0.00000583, falling below its 50-day moving average of $0.00000597. This decrease happened as investors reacted to broader economic worries and began selling their holdings.
Shiba Inu’s price is currently below its 50-day moving average, which suggests sellers have the upper hand. If SHIB can’t climb back above this level, it could fall further. A drop below $0.00000562 might lead to a test of support around $0.000005.
If Shiba Inu’s price goes up and breaks past the 50-day moving average and then $0.000006, it could potentially reach $0.0000065 and $0.000007.
Investors are also watching for the final reading of the University of Michigan’s Consumer Sentiment Index for March, which will be released later today.
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2026-03-27 14:48