Shiba Inu (SHIB) has gone up 2.4% today and currently stands at $0.000001345 as meme coins have been recovering in the past three days from the significant drop they experienced on Monday.
Donald Trump’s list of cryptocurrencies that could make it to the U.S. crypto reserve prompted a market-wide rally that pushed SHIB by 11% on Sunday.
However, the token evaporated all of those gains a day later and then some. As a result, SHIB has accumulated an 8% retreat in the past week while its annual losses stand at 36.4%.
🚀🐾
There you go… history might repeat in the same rhythm 📈
Wait and see while you DCA 🙌🏼👊🏼💎#Shibarmy pic.twitter.com/zcQciAfdN5
— Shiba Inu (@ShibainuCoin) March 4, 2025
A couple of days ago, the largest community-linked X account of Shiba Inu posted a chart that showed similarities between the token’s price action back in 2020 and its latest behavior.
Back then, SHIB nearly tripled its value. As a community-centered digital asset, SHIB’s performance depends primarily on market sentiment and the commitment and support of long-term holders.
Shiba Inu (SHIB) has been resilient to this year’s downturn compared to other assets in this category, like Pepe (PEPE) and Bonk (BONK), which have retreated by 64.6% and 58.8%, respectively.
SHIB Shows No Signs of a Trend Reversal Yet
Trading volumes for SHIB are down 32% in the past 24 hours as volatility appears to be normalizing.
The daily chart shows that the $0.000012 area has served as support a couple of times during sharp downturns while the lowest price that SHIB has hit since its downtrend started stands at $0.0000115.
This would be the key support to watch if SHIB’s downtrend continues. Market sentiment is heavily depressed as indicated by the Fear and Greed Index, which shows that investors are in panic mode.
The Bybit hack sell-off contributed to scaring off market participants. Combined with Trump’s hostile rhetoric on the trade front and the Fed’s reluctance to raise rates, macroeconomic conditions are unfavorable to meme coins at the moment.
SHIB now needs to move above the $0.000013 level to reverse its downtrend. Momentum indicators are are behaving erratically, which makes it difficult to determine the direction of the trend.
Since the prevailing trend is down, traders could wait for a retest of the upper trend line shown in the chart to take a short position that offers the highest risk-reward ratio. A plausible first target in this case would be the $0.000012 level, followed by the $0.000015 local bottom if the downturn accelerates.
Shiba Inu and other crypto could also rally depending on how Donald Trump’s meeting with dozens of crypto executives and influential figures in the industry goes tomorrow. BTC Bull Token (BTCBULL) could deliver the highest returns to investors in this scenario.
BTC Bull Token (BTCBULL) Rewards Holders as BTC Rises to Higher Levels
BTC Bull Token (BTC) is a meme coin that offers milestone-based rewards to token holders. Its compensation scheme is tied to the performance of the world’s top crypto asset, Bitcoin (BTC).
As BTC rises to higher levels, investors will be rewarded with token burns or direct airdrops of BTC tokens.
The project was launched once BTC rose to $100,000. Once the asset touches the $125,000 level, a portion of BTCBULL’s circulating supply will be immediately burned to foster scarcity. This should, in theory, increase the value of the meme coin in the near term.
Meanwhile, every time BTC rises by multiples of $50,000 (e.g. $150K, $200K, etc.) investors will receive a BTC airdrop. A portion of the funds raised via the BTCBULL presale will be used to finance its milestone-based reward system.
Just a couple of weeks after its launch, this innovative meme coin project has raised $3.3 million. This is early evidence of investors’ interest in this kind of scheme, which provides a source of passive income to BTC maximalists.
To buy $BTCBULL, head to the BTC Bull Token website and connect your wallet. You can either swap ETH, USDT, or BNB or use a bank card to make your investment.
