Shiba Inu Stuck In a Downtrend – SHIB Price Collapse Coming?

Shiba Inu Stuck In a Downtrend - SHIB Price Collapse Coming? / Source: Cryptonews

Shiba Inu (SHIB) bulls are nervously prodding the price higher early on Thursday as traders await Friday’s highly anticipated White House crypto summit that could reveal the launch of a US strategic Bitcoin reserve.

The Shiba Inu price was last around $0.0000135, modestly higher on the session and up over 10% from Tuesday’s lows.

The meme coin continues to trade around 60% down from its December 2024 highs in the $0.000033 area.

As market leading crypto Bitcoin gears up for a potential rush back to record highs, could the meme coin market also be ready for an over-due rebound?

Possibly, but Shiba Inu has some major technical hurdles to get past first before it would be safe to conclude that the downtrend is over.

Shiba Inu Price Prediction – Where Next?

Shiba Inu’s 21DMA has offered stiff resistance on multiple occasions over the last few weeks, a strong signal that the bears have been in control of this market.

Just looking at the Shiba Inu chart alone, there is nothing really to suggest that a rebound is coming.

Rather, pressure appears to be building towards a potential breakout below support in the $0.000011-12 area.

A break below here would open the door to a drop potentially all the way back towards 2023 lows in the $0.000006 area, a nightmare scenario for Shiba Inu investors.

However, with US President Trump delaying tariffs on Canada and Mexico once again, and Friday’s US crypto announcement coming, the mood might continue improving in the coming days.

This could be enough to save Shiba Inu in the short term. But Shiba Inu won’t be out of the woods until it can mount a breakout of its current downtrend.

And, even if major cryptos surge on Friday, there is no guarantee that this materializes.

Much of the market appears to have become demoralized with the meme coin space, and the next leg of the crypto bull market might be time for utility plays to shine.

Sure, Shiba Inu is trying to build its own web3 ecosystem. But no one really takes it seriously beyond being just a meme coin.

Is SHIB a Good Crypto to Buy Now?

Of course, moments when FUD is high are almost always the best times to buy a crypto, and FUD is certainly high in the meme coin space right now.

Meme coins may are likely to have a more difficult year in 2025 than 2024, with focus on other sectors of the crypto market (like Bitcoin ).

But it would be crazy to suggest that meme coins like Shiba Inu are “dead”. Indeed, for investors looking to gain some exposure to the high risk meme coin space, SHIB remains a great option.

Maybe it’s not the best crypto to buy right now. But SHIB arguably still deserves consideration in any crypto investor’s portfolio.