TLDR
- SHIB burn rate has dropped 82% over the past 7 days
- Whales purchased 874 billion SHIB tokens after recent market downturn
- SHIB hit a 13-month low of $0.0000098 on Monday, breaking below $0.00001
- On-chain metrics suggest quiet accumulation despite price decline
- Price is showing potential for a bullish reversal with RSI near oversold territory
Shiba Inu (SHIB) has plunged to its lowest price in 13 months, breaking below the critical $0.00001 threshold for the first time since February 2024. The popular memecoin traded at $0.00001095 as of April 10, 2025, reflecting a 2.23% decline in the last 24 hours.
The downturn comes as SHIB’s burn rate dropped by 82% over the past seven days, marking one of the sharpest weekly slowdowns in the project’s recent history. This has sparked questions about whether the memecoin’s momentum is fading or simply taking a temporary pause.
SHIB Price
Despite the price dip, large-scale investors appear to be taking advantage of the situation. On-chain data shows that whale investors have acquired a staggering 874 billion SHIB tokens since former U.S. President Donald Trump’s latest trade tariff announcement on April 2.
This accumulation, valued at approximately $10.4 million at current prices, began just hours after Trump announced sweeping tariffs, suggesting that some large investors view geopolitical unrest as a buying opportunity.
The price hit a low of $0.0000098 on Monday before rebounding 4% to around $0.000014, sitting above the Volume Weighted Average Price (VWAP) for the day. This indicates that after an initial sell-off, SHIB attracted a cluster of buy orders as trading progressed.
Technical Indicators Show Mixed Signals
SHIB recently bounced from a key accumulation zone between $0.00001035 and $0.00001393, where demand has consistently supported price action. After months inside a falling wedge pattern, recent price movement suggests early signs of potential bullish momentum.
The Relative Strength Index (RSI) was 34.90 at press time, indicating that SHIB is trading near oversold territory, a region often associated with rebound opportunities. However, the weak divergence with price suggests bulls may be lacking follow-through.
For a confirmed bullish shift, buyers must reclaim the $0.00001393 resistance level. Failure to do so may result in a retest of the $0.00001035 support, with a possible slide toward $0.00000800 if selling pressure continues.
The Chande Kroll Stop, a technical indicator used to identify potential trend changes, has flipped below the current price, suggesting minimal short-term selling pressure. However, the resistance ceiling at $0.000015 looms large over any recovery attempt.
Holder Sentiment Remains Cautious
According to In/Out of the Money data, 89.95% of SHIB holders were at a loss at press time, while only 9.37% remained in profit. This distribution creates a challenging environment for price recovery.
The largest concentration of addresses sits slightly above the current price, meaning any upward movement will likely face heavy selling as investors attempt to exit their positions at breakeven levels. This could add pressure on potential price rallies.
Only 0.67% of SHIB holders were “at the money,” showing that current entry points carry substantial risk without a clear bullish catalyst. A sustainable move upward will depend on strong buying volume and a broader sentiment reversal.
Exchange Flows Point to Accumulation
Exchange netflow data showed -156.65 billion SHIB, indicating a 3.2% net outflow. This means more tokens are moving out of exchanges than into them, which typically suggests accumulation rather than distribution.
This behavior often precedes bullish breakouts when combined with price consolidation, as long-term holders position themselves for a potential rally. However, without fresh demand, this trend alone may not be sufficient to drive prices significantly higher.
Liquidation data reveals an interesting dynamic in the market. At the time of writing, SHIB saw $305.51K in long liquidations compared to $85.73K in short liquidations. While long positions took a bigger hit, shorts are starting to face pressure, suggesting bears are not fully in control.
Any surge in price could potentially trigger a short squeeze, further accelerating any recovery. The continued presence of long interest shows that some traders are already betting on a bounce despite recent weakness.
The memecoin market appears to be consolidating rather than fading entirely. SHIB’s price structure, whale accumulation patterns, and technical signals show signs of preparation for a potential move, though direction remains uncertain.
If bulls can successfully defend current support levels, momentum could shift in their favor. However, traders should remain cautious given the high percentage of underwater positions and the challenging macroeconomic backdrop.
