Shibarium Weakness and Bitcoin Correction Put SHIB Price at Risk
Shibarium's total value locked (TVL) has plunged by 74%, signaling weaker capital participation across the network. This decline comes as Shiba Inu's price action shows signs of weakening momentum, with the token slipping toward $0.000005 after failing to hold the $0.000006 resistance level.
The recent Bitcoin correction toward $79,000 has added pressure on smaller cryptocurrencies, making it difficult for meme coins like SHIB to maintain their value. However, some analysts believe that a stronger Bitcoin market could improve sentiment across the broader crypto sector, potentially leading to a recovery in Shiba Inu's price.
A sustained breakout of $0.00001 is still possible if buyers defend the $0.000005 region and Bitcoin regains momentum towards $100,000. However, investors should remain cautious as inflation remains elevated, and Federal Reserve policy could have a significant impact on the market.