SHIB price stabilizes after breaking key support
Shiba Inu continues to show resilience despite broader crypto market weakness. The token is trading at $0.0000009174, up 0.16% in the past 24 hours, with a market cap of $5.4 billion.
Trading volume has increased 11.28% to $168.54 million, while the volume-to-market-cap ratio of 3.11% reflects moderate activity behind the slight price lift.
Source: CoinMarketCapSHIB’s outlook turned fragile in late October after the price fell below the critical psychological threshold of $0.00001, adding an extra zero and signaling a loss of momentum.
By early November, the token hit its lowest level since January 2024, confirming a nine-month downtrend driven by low volatility, weak demand, and competition from newer meme coins.
Recent on-chain data shows a notable shift: SHIB exchange outflows surged 397%, with the seven-day moving average reaching 2.36 billion tokens. This trend indicates investors are pulling assets off centralized exchanges, often a precursor to accumulation or long-term holding phases.
SHIB has since stabilized near $0.0000099, rising off a recent low of $0.0000085. While the recovery remains tentative, reduced sell-side pressure is typically associated with early-stage trend reversals.
The Musk effect is over
Recently, Elon Musk dropped a late-night Shiba Inu clip and, as expected, it immediately flooded every crypto feed, because anything remotely connected to Musk and dogs tends to dominate the discussion even when the market itself has zero interest in responding to it.
Musk-driven spikes once triggered outsized rallies, but the token now shows no meaningful price correlation to such events. This contrasts sharply with early 2021, when Musk’s comments fueled extreme reflexive behavior across Dogecoin and SHIB.
While the end of Musk-driven hype removes a major speculative catalyst, the combination of shrinking exchange supply and emerging real-world applications could give SHIB a foundation to regain momentum in 2025, if broader market conditions stabilize.
Real-life utility: possible game changer?
A new partnership announced this week may offer SHIB its most significant real-world use case to date. The Shiba Inu team has partnered with Unity, a blockchain-based telecom testing network that verifies mobile infrastructure using distributed smartphone data.
SHIB will serve as a working currency across the platform: users can purchase Unity nodes and licenses with SHIB, receive payouts in SHIB, and access a dedicated SHIB-branded payment gateway.
Unity plans to limit its network to 6,000 nodes, introducing a scarcity element that could influence long-term value. With the global telecom industry valued at roughly $2 trillion, the integration positions SHIB for potential adoption beyond speculative trading, though the scale of real demand remains uncertain.
SHIB’s path forward depends on whether on-chain accumulation persists and whether new utility translates into measurable usage.
Source: https://u.today/opinions/its-not-over-for-shiba-inu-shib-price-yet
