Shiba Inu price drops below $0.000005 as liquidity sweep deepens

Shiba Inu slipped to $0.000005 per token, a 0.46% decline in the last 24 hours, while its 24‑hour trading volume sits at $104 million and its market cap hovers around $2.96 billion【1】. The token’s circulating supply is 589.24 trillion SHIB, out of a max supply of 589.55 trillion, and it remains the 29th‑largest cryptocurrency by market‑cap on CoinMarketCap【1】.

Technical analysis on TradingView flags a “liquidity sweep” that broke the $0.00000540 macro floor that had held the price range for four months, pushing the pair into a lower extension and pulling the RSI below 30【2】. The chart shows the prior invalidation level at $0.00000510 was also swept, suggesting that sellers have taken control and that the token may test a new low near $0.00000302 before any bounce can be expected【2】. Traders note that the current price action reflects weak momentum and heavy selling pressure, with a short‑term target of $0.0000058 and a confidence level of 62% for further decline【2】.

Shiba Inu’s price dynamics are rooted in its community‑driven origins. Launched anonymously as “Ryoshi” in August 2020, the meme token quickly amassed a global following, peaking in October 2021 when it briefly overtook Dogecoin in market‑cap rankings【1】. The ecosystem expanded with its own DEX, ShibaSwap, and a planned stablecoin, SHI, but the token’s valuation remains highly sensitive to broader crypto sentiment and speculative demand rather than intrinsic utility【1】.

With the token now trading below its recent structural floor and technical indicators pointing to continued downside, the next price pivot will likely hinge on whether the community can rekindle buying interest or if broader market weakness will drive SHIB into deeper territory. The open question is whether the liquidity sweep marks a temporary correction or the start of a longer‑term bear phase for the meme‑coin.