Shiba Inu Price Plummets 16% Amid Widespread Selling Pressure

A sharp decline in Shiba Inu's price has left holders wondering if the token will hold its current level of $0.000005 after a 16% drop.

The sudden wave of selling, which occurred over several sessions, erased weeks of gains for one of crypto's most recognizable memecoins.

Shiba Inu's price fell from around $0.0000062 to near $0.0000052 before recovering somewhat to $0.0000053, but the rebound looks fragile.

The spot market showed a significant imbalance, with 3.8 trillion tokens in sell volume outweighing buy volume of approximately 3.4 trillion tokens, indicating concentrated selling rather than a slow drift lower.