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Shiba Inu Dips on Trade Turmoil but Finds Support as Shibarium Activity Soars
Shiba Inu (SHIB) slid more than 16% amid a broader crypto pullback triggered by escalating trade tensions between the U.S. and China. The memecoin briefly touched $0.00001038 — its lowest since February 2023 — as traders rotated out of risk assets in response to President Trump’s latest tariff offensive.
Despite the sell-off, SHIB’s fundamentals remain strong. Its layer-2 solution, Shibarium, has now surpassed 1 billion processed transactions, averaging over 4 million per day — a signal of growing ecosystem engagement even during market stress.
Technical signals suggest the correction may be bottoming out. SHIB has bounced off a key support level near $0.00001050, forming a potential double-bottom pattern and reclaiming $0.00001097. Volume surged during the bounce, suggesting renewed buying interest.
Analysts note that a sustained break above $0.00001108 could open the door for a move toward $0.00001150. However, declining open interest and negative funding rates point to continued caution in the derivatives market.
Key Takeaways:
- SHIB fell 16.2% before bouncing 4.2% intraday.
- Layer-2 network Shibarium surpasses 1B transactions.
- Technical pattern hints at recovery, though sentiment remains fragile.
- Resistance lies at $0.00001108, with eyes on $0.00001150 if momentum continues.
While macro risks still loom large, Shiba Inu’s network strength and recent price stabilization may give bulls a reason to stay in the game — for now.
