Shiba Inu’s Fall: A Ballad of Burnt Coins and Bleak Hopes

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Key Highlights

  • The land of SHIB, once vibrant, now lies parched at $0.0000069, its roots scorched since June 2023.
  • Burning, once a ritual of renewal, has slowed to a crawl, while Shibarium’s TVL withers to $393,000-a ghost town of capital.
  • Liquidations, like wolves at the gate, gnaw at the last shreds of hope, leaving traders to scavenge crumbs.

In the crypto wilds, where fortunes bloom and wither like dandelions in a gale, Shiba Inu (SHIB) stumbled into a blizzard. When Bitcoin, the old titan, shuddered below $80,000-a price unseen since April 2025-the sky cracked. Panic swept the plains, and SHIB, that proud little pup, was dragged into the mire. Its price, once a flicker of light, dimmed to $0.00000616, the lowest since the long-ago summer of ’23. Now, it limps forward at $0.0000069, a 5% rally that feels less like a comeback and more like a dog fetching a stick it no longer believes in. Trading volume? A mere whisper, down 22% to $167 million-enough to buy a loaf of bread and call it a day.

The Pack Turns on SHIB

The land was already weary. Meme coins, those overfed pets of the market, were left to starve as traders, like wolves with empty bellies, closed their jaws on positions. SHIB, the runt of the litter, lost 9.49% in seven days-a fate worse than the dog catcher. Liquidations, the market’s feral dogs, added to the chaos. Coinglass counted $196,390 in longs devoured in 24 hours, futures volume slumping 18% to $221 million. Open interest? A feeble 6% rise to $76.56 million. Traders now dance between hope and despair like fireflies in a thunderstorm.

The Burned Earth

Once, burning SHIB was a sacred rite. Tokens sent to the void, like ashes to the wind, to make room for scarcity. But now? On January 31, the land offered zero burns-a betrayal. Just two days prior, the rate had surged 500%, a false dawn. Then, a single transaction, 1,887,367 tokens vanished in a puff of smoke, briefly whispering of salvation. But the land is vast. Over 585 trillion tokens still roam free, and trillions more slumber in staking. What good is a single flame when the forest is gone?

Shibarium, its layer-2 sibling, fared no better. TVL, the lifeblood of the network, dwindled to $393,000-a puddle compared to its peak of $6 million in December 2024. The drop? A 41% plunge in a day, 93% in a year. A once-thriving river now reduced to a trickle, its banks lined with empty wallets and forgotten dreams.

The Last Bastion

SHIB now clings to a price zone that once shielded it from winter’s bite in late 2023. This is its final hill, a support level not seen since 2021. The daily candle, like a stubborn old man, rejects the descent. A bullish close above it might spark a rally, but the RSI lingers at 40, the moving average at 36. The bears still rule, their shadows stretching long over the valley. If the price breaks below this fragile line, the fall could be eternal-a canyon of despair with no bottom in sight.

In the end, SHIB’s fate is written in the stars-or rather, in the algorithms. If the market’s heart does not soften, this little dog may join the graveyard of forgotten coins, its bones buried beneath the frost of time.

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2026-02-02 22:06