Shiba Inu (SHIB) Price Outlook

Shiba Inu (SHIB) has lost a key support level, according to a recent price outlook by Ali Martinez. The next major support zones to watch are $0.000011 and $0.000008 per SHIB.

Currently, the meme coin is priced at $0.0000155. Martinez predicts that if SHIB falls to the outlined levels, it could result in a drop of 29% to 48.5%. The last time Shiba Inu traded at these low levels was in November 2023 and August 2024. As a reminder, we are currently in February 2025.

Despite recent price challenges, Shiba Inu remains the second largest meme cryptocurrency, which might be attributed to community support or potential manipulations keeping SHIB afloat.

> “#ShibaInu $SHIB has lost a key support level! The next major support zones to watch are $0.000011 and $0.000008.”
> — Ali (@ali_charts) February 23, 2025

SHIB continues to have a $9.17 billion market cap, but if the predicted dip occurs, it could erase $2.66 billion to $4.44 billion from its value—an alarming amount.

Questions around the Shiba Inu coin’s relevance are growing. Previously labeled the “DOGE killer,” SHIB was once the main meme coin on Ethereum, a title now taken by PEPE. Currently, it seems to reflect the price action of leading altcoins but has seen a decline in its ranking among crypto assets.

Although the drop forecast by Martinez could impact confidence in SHIB, the situation highlights the volatility and saturation of the meme coin market.