Shiba Inu price falls 4.78% to $0.000005, market cap near $2.76 B

Shiba Inu slipped 4.78% in the past 24 hours, trading at $0.000005 per token and pushing its market capitalization to roughly $2.76 billion, a dip that tests the meme‑coin’s resilience after recent hype‑driven rallies【1】.

Price pressure and recent context

The token’s price decline follows a period where SHIB briefly topped Dogecoin by market cap in October 2021, a milestone that lifted it above the one‑million‑holder mark【1】. Since then, the coin has settled into a range where daily moves of 4‑5% are common, making the latest drop a routine correction rather than a breakout failure. The current price sits well below its all‑time high of $0.000088 reached in late 2021, indicating that the market still values the token far less than its peak.

Tokenomics and on‑chain backdrop

SHIB’s supply is effectively capped at 589.55 trillion tokens, with 589.24 trillion already circulating, meaning only about 0.05% remains unissued【1】. Half of the original supply was locked on Uniswap and the other half sent to Vitalik Buterin, who later burned 40% of that allocation, reducing the effective supply and creating a large “dead‑wallet” pool【1】. These supply actions have long‑term implications for price pressure, as the majority of tokens are already in circulation and any further unlocks are minimal.

Market positioning

With a 24‑hour trading volume of $78.9 million, SHIB remains one of the most actively traded meme tokens, ranking #27 on CoinMarketCap【1】. Its share of ERC‑20 holdings among Ethereum whales exceeds 20%, far outpacing the next biggest token at 5%【1】, underscoring its continued relevance in the broader Ethereum ecosystem despite price volatility.

What to watch

• $0.000006 resistance – a breach could signal a short‑term rebound.
• Upcoming token unlocks – any new releases from the remaining supply pool could add selling pressure.
• Ethereum network upgrades – shifts from proof‑of‑work to proof‑of‑stake may affect ERC‑20 token dynamics, including SHIB.

The price dip highlights how SHIB’s large circulating supply and past supply‑burn events shape its price floor, while future on‑chain developments and broader market sentiment will determine whether the token can regain momentum.