Shiba Inu price drops 30% in two weeks, analysts forecast February

Shiba Inu’s token price slid roughly 30% between early May and mid‑May, sparking a noticeable shift among its long‑term holders who began moving funds out of the meme‑coin [1]. The decline coincided with broader market volatility and a tightening of liquidity on major exchanges, which amplified price pressure on the already thinly traded asset.

Long‑term investors, defined by Nasdaq as wallets holding SHIB for more than a year, reacted by reducing exposure, a move that further depressed the token’s market depth. Their sell‑off added to the downward momentum, suggesting that confidence among the most patient participants is waning. At the same time, the token’s on‑chain activity showed a modest uptick in transfers, indicating that some holders were reallocating assets rather than abandoning the token entirely.

Looking ahead, Nasdaq’s February 2024 outlook for SHIB remains cautiously optimistic. Analysts project that the token could stabilize within a narrow range and potentially recover modest gains if broader crypto sentiment improves [2]. The forecast hinges on several variables, including the performance of other meme‑coins, regulatory developments, and the overall health of the crypto market. Should bullish sentiment return, SHIB may see incremental price lifts; however, the recent 30% plunge underscores the token’s susceptibility to rapid shifts in trader behavior.

The episode highlights a broader pattern: when a meme‑coin experiences sharp price drops, even its most steadfast holders may retreat, amplifying volatility. As SHIB approaches the February forecast window, market participants will watch for signs of renewed buying pressure or further outflows that could dictate the token’s trajectory. The key question remains whether the recent sell‑off marks a temporary correction or the start of a longer‑term downtrend for the Shiba Inu community.