Shiba Inu plummeted more than 8.5% in 24 hours, returning to trade with five zeros ($0.000009351). The ecosystem’s marketing lead, Lucie, issued a message of calm, comparing SHIB to a race car making a U-turn. Market data shows 138 billion SHIB moving to exchanges, indicating a potential sell-off wave.
The last 24 hours have been painful for the “memecoin” sector. Shiba Inu (SHIB) has been dragged into a drop of over 8.5%. This bearish movement has caused the asset to add a zero to its price, trading at $0.000009351 at the time of this writing.
The crash generated a wave of FUD (fear, uncertainty, and doubt) in the community. Critics are labeling the project a “dead ecosystem.” On the other hand, amid this tension, the Shiba Inu team’s response was swift, seeking to counter the negative narrative.
The ecosystem’s marketing lead, known as Lucie, sent a message of encouragement (a “hang in there”) to the SHIB Army. Using a short video of a race car making a U-turn toward the sunrise, Lucie assured a solid future for the token. “SHIB is scarred by the past, but unstoppable in the future,” she stated.
SHIB Will Not Just Recover, It Will “Transform”
Far from promising a simple recovery, Lucie’s message hints at a “complete transformation” or a “rebirth.” This Shiba Inu team’s response suggests that the developers might be planning new announcements, possible partnerships, or the launch of utilities that will reposition the memecoin in the market.
Lucie emphasized that the project has always learned from its setbacks, using the “scars” as stepping stones for growth. She is confident that this time will be no different and that the project, now more mature, will handle the situation with innovation.
Market Sentiment and On-Chain Indicators
However, short-term market sentiment remains bearish. Trading volume has also decreased by 9.31%, standing at $5.51 billion. More worryingly, on-chain indicators reveal that approximately 138 billion SHIB tokens were moved to different exchanges.
This massive movement is usually interpreted as holders preparing to liquidate their positions (sell) amid the price’s technical weakness.
Potential Solutions for Stabilization
To stabilize the drop, analysts suggest a critical step would be to increase the ecosystem’s deflationary burn mechanism. A massive reduction in the circulating supply could be the key to inspiring the confidence that the Shiba Inu team’s response seeks to restore.