.png){kind=logo}
Shiba Inu (SHIB) has dropped 9% and is now close to $0.000011, which is near the strength of its support zone. The consolidation comes after a lackluster institutional activity, with the market still mainly influenced by retail participation and whale positioning.
Buyers are tracking whether this price point can be an acceptable base for recovery. According to the market participants, SHIB has fluctuated in September in the past, and long-term corrections have been recorded over the past years. This scenario continues to keep traders cautious about short-term opportunities.
After the recent adjustment, there was reduced activity from institutional participants; no significant announcements or capital inflows were made. This lack of institutional participation has shifted attention to whale movements that appear to be building at lower levels.
On-chain data shows selective purchasing from larger holders, indicating faith in $0.000011 potentially acting as an essential level. However, analysts warn that without improved liquidity inflows, SHIB may continue to be a victim of volatility. There are no new exchange additions or any major adoption updates, which further contribute to a quiet trading environment.
The meme token market is unstable, and price changes of Shiba Inu influence the price changes of other tokens, such as Dogecoin and Floki Inu. Even though there is interconnection among some cryptocurrencies, there is also little influence by some others on larger currencies such as Bitcoin and Ether. The trend of SHIB, according to analysts, has more to do with ecosystem building and engagement with the community.
The lead developer, Shytoshi Kusama, said that the team has a long-term perspective and is oriented towards future developmental work, including the expansion of Shibarium. Historical data indicate that Shiba Inu tends to increase activity during the last quarter of the year.
If the current whale accumulation continues, $0.000011 could be a foundation for possible stabilization. However, market participants are still cautious due to the absence of strong institutional backing.
