- Shiba Inu’s ecosystem faces weak leadership, declining engagement, and unresolved hacks.
- Multiple unfinished projects have raised doubts about the team’s credibility.
- SHIB price is consolidating within a symmetrical triangle, suggesting a decisive breakout ahead.
Shiba Inu (SHIB), once celebrated as a meme-coin success story, is now wrestling with weak leadership, unfinished projects, and a series of security lapses. The project still counts over 1.5 million holders, yet sentiment has shifted as milestones have slipped and accountability has thinned.
CoinMarketCap data shows SHIB has dropped 11% in the past week, sliding out of the top-20 list by market cap. The token remains trapped around the $0.00001190 range, leaving traders waiting for a decisive move.
Mounting Challenges for SHIB Holders
Leadership Vacuum and Unresolved Hacks
Shiba Inu’s growth beyond a meme coin into an ecosystem of tokens and projects, including SHIB, BONE, and LEASH, was initially seen as a success story.
However, enthusiasm has faded as token prices stagnate and milestones go unfinished. SHIB itself has struggled to move meaningfully beyond the $0.00001 range.
Meanwhile, lead developer Shytoshi Kusama has hinted at stepping down, even suggesting an election for a new leader, but no timeline has been announced. Top developer Kaal Dhairya has also distanced himself from leadership responsibility.
Related: Is Shytoshi Kusama Gone? SHIB Team Says He’s Just “Ten Steps Ahead”
The lack of communication has compounded earlier setbacks. The Shibarium Bridge hack earlier this month drained more than $4 million, with funds still unrecovered. Kusama has since turned his social account private, and marketing lead Lucie has reduced her visibility, leaving holders with fewer updates.
This combination of leadership drift, unresolved hacks, and unfinished initiatives, has raised doubts among investors who once saw SHIB as a meme-to-utility growth story
SHIB Price Analysis: Symmetrical Triangle Formation
On the charts, SHIB is consolidating within a symmetrical triangle, defined by lower highs and higher lows. Currently trading around $0.00001190, Bollinger Bands are tightening, a signal of reduced volatility that often precedes explosive price action.
A breakout above the upper trendline and Bollinger median ($0.00001293) could pave the way for upside targets at $0.00001418 and potentially $0.00002000 in an aggressive rally.
On the other hand, failure to hold support could drag SHIB toward $0.00001100 initially, with deeper support between $0.00000900 and $0.00000850.
Momentum indicators remain mixed with the Balance of Power (BoP) leaning negative and the Chaikin Money Flow (CMF) showing slight inflows, hinting at quiet but rising accumulation.
Related: Shiba Inu (SHIB) Price Prediction For September 25
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Source: https://coinedition.com/shiba-inu-faces-breakout-test-under-weak-leadership/
