- Shiba Inu (SHIB) dropped over 3.5%, reaching its lowest price since April 9.
- The broader cryptocurrency market and U.S. stock indices also faced significant losses.
- Geopolitical tensions, including recent statements from President Donald Trump about Iran, contributed to market risk aversion.
- High trading volumes and failed resistance levels intensified SHIB’s downward movement.
- Analysts observed both increased volatility and signs of seller exhaustion as SHIB prices consolidated near support.
Shiba Inu (SHIB), the second-largest meme-based cryptocurrency by market value, fell more than 3.5% to $0.00001134. This drop came as the broader cryptocurrency market and U.S. stocks experienced simultaneous declines.
The decline in SHIB followed heightened selling pressure and significant trading activity, with volumes surpassing 1.2 billion tokens. Bitcoin, the world’s largest cryptocurrency, also fell nearly 3% to $103,800, according to data from CoinDesk.
Market uncertainty increased after President Donald Trump dismissed reports that the U.S. was seeking a truce with Iran. He also threatened the assassination of Iran’s Supreme Leader Ayatollah Ali Khamenei and demanded Iran’s unconditional surrender in the ongoing war with Israel. This contributed to risk aversion across both digital asset and traditional financial markets.
Trading activity in SHIB reflected this uncertainty. The token faced a clear rejection at the $0.00001230 resistance level, which triggered heavy selling during high-volume trading sessions later in the day. Although temporary support appeared around $0.00001167, continued pressure from sellers pushed SHIB to new lows.
Analysts noted that bearish momentum started to ease as the price moved sideways between $0.00001176 and $0.00001182, with lower trading volumes suggesting that selling may be losing momentum. Brief recovery attempts were cut short as sellers re-entered, and prices finished the session with consolidation around $0.00001175.
The performance of SHIB and other cryptocurrencies remains closely linked to global economic events and ongoing trade and geopolitical disputes. These factors are likely to increase volatility as investors monitor the market for direction.
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