Shiba Inu (SHIB) Loses 116,666,666,666 in 48 Hours: Biggest Market Crash?

SHIB/USDT Chart by TradingView

SHIB has clearly broken out of its multi-month triangle structure on the price chart. This is a formation that traders usually keep a close eye on because it suggests the possibility of significant volatility. SHIB fell below the lower trendline and important moving averages rather than breaking higher, which might have raised expectations of a recovery rally. Because they were unable to offer assistance, the 50-day and 100-day EMAs hastened the decline.

Shiba Inu losing even more

The price of SHIB is currently trading close to $0.00001216, down over 5% in the last 48 hours. Support levels at $0.00001180 and $0.00001120 are immediately under pressure from the breakdown, and if liquidations continue, there is a good chance that the market will continue to decline. Additionally, the RSI has dropped precipitously, approaching oversold territory and indicating strong seller momentum. The magnitude of this liquidation casts doubt on SHIBs immediate future.

Sentiment is harmed by a 116-billion-token wipeout, which also raises concerns about the viability of the speculative demand that once drove SHIBs rallies. The token runs the risk of declining further and possibly reversing much of its 2025 gains unless buying pressure quickly returns.

One of SHIBs greatest stress tests to date is occurring as a result of technical malfunctions that coincide with record liquidations. The current concern among many holders is whether this crash marks the start of a long-term decline or a brief shakeout.