SHIB Dips 5%, SHIB-DOGE Bounces Back From Record Lows

Shiba Inu (SHIB) $0.000012188, the world’s second-largest meme token, saw a sharp decline alongside broader crypto markets but outperformed Dogecoin (DOGE) $0.2414, which posted heavier losses.

Over a 24-hour period, SHIB dropped 5%, falling from $0.000012888 to $0.000012188. This movement triggered liquidations exceeding $1 million in leveraged positions, predominantly long bets, signaling an overly bullish market sentiment, according to Coinglass.

Resistance was established near $0.00001237 amid high-volume sell-offs, while support formed around $0.00001197. The decline also marked a bearish breakout from a contracting triangle, defined by trendlines connecting the June 22–September 1 lows and May 12–July 21 highs. This pattern suggests the potential for further losses toward the June 22 low of $0.00001004.

The sell-off coincided with a surge in trading volume to 5.29 trillion tokens, pointing to an institutional liquidation event, according to CoinDesk analytics.

Market Highlights:

• SHIB fell 5% over Sept. 21–22, moving from $0.000012888 to $0.000012188.
• The full trading range reached $0.000009441 (79%), with the sharpest drop at $0.000011975 on Sept. 22, 06:00.
• Support held at $0.00001197, while resistance consolidated near $0.00001290, capping early-session gains.

SHIB-DOGE Pair Bounces From Record Lows
While SHIB lost 5%, Dogecoin fell over 8%, enabling the Binance-listed SHIB-DOGE pair to rebound from historic lows.

The pair’s daily MACD histogram is nearing a positive crossover, signaling a potential bullish momentum shift. This suggests SHIB could continue to outperform DOGE in the short term.