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Shiba Inu retested $0.000017 on June 24, with holders placing $85 M of sell orders, signaling further downside risk.
Shiba Inu (SHIB) fell to $0.000016 on June 24, its lowest in over 100 days, before a modest 4 % rebound to $0.000017 the next day, while on‑chain data shows $85 million of sell orders crowding the market【1】.
| At a glance | |
|---|---|
| Price | $0.000017 (after 4 % rebound) |
| 24‑h change | –10.33 % on June 24 |
| Key level | $0.000015‑$0.00001539 (support zone) |
| Catalyst | $85 M sell‑wall from holders at $0.000017 avg price【1】 |
The June 24 sell‑off pushed SHIB 10.33 % lower, taking monthly losses to roughly 45 %—the deepest decline since early March 2024【1】. IntoTheBlock’s order‑book snapshot shows holders have placed sell orders for about 5 trillion SHIB at an average price of $0.000017, representing over $85 million of selling pressure. By contrast, buy orders total only 3.9 trillion SHIB, leaving an excess supply of roughly 1.1 trillion tokens, or $18.7 million, which could force prices down further【1】.
SHIB’s Relative Strength Index has lingered below the 30 threshold since June 17, indicating oversold conditions, while the lower Bollinger Band sits near $0.000015390—a critical support level. A break below this band could trigger a slide toward $0.000015, as the bearish momentum has not yet exhausted according to the RSI【1】. The broader crypto market remains bearish, with Bitcoin slipping below $60,000 for the first time in 50 days, adding to the risk of further downside for memecoins like SHIB【1】.
Despite the 4 % rebound, sentiment remains weak. The $85 million sell‑wall reflects a coordinated effort by existing holders to limit upside, while prospective investors stay on the sidelines amid heightened FUD (fear, uncertainty, doubt). Without a bullish catalyst—such as an Ethereum ETF launch or a favorable Fed rate move—price pressure is likely to persist【1】.
The $85 million sell‑wall underscores a strong bearish bias, suggesting that unless new buying pressure emerges, SHIB could test the $0.000015 support in the coming days.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jun 24, 2026 · How we report
The decline is attributed to a broader shift away from speculative meme coins, risk‑off sentiment from geopolitical tensions, and strong correlation with Bitcoin’s price drop.
SHIB’s ecosystem includes the ShibaSwap decentralized exchange and the Shibarium Layer‑2 network, which aim to improve scalability and provide additional use cases.
The weekly chart shows SHIB trading near its yearly low with bearish momentum; a close below $0.0000430 could trigger further decline toward $0.0000300.
Burn activity remains low and sporadic, offering little scarcity‑driven price support.
SHIB is included in the T. Rowe Price Active Crypto ETF, which may provide institutional exposure despite the lack of a dedicated spot ETF.