Shiba Inu (SHIB) has seen a sharp decline, plunging 20% in the last 24 hours to trade at $0.000014.
The meme coin’s weekly drop now stands at 25%, raising concerns over its price stability.
A cryptic video released by lead developer Shytoshi Kusama has sparked speculation within the SHIB community, hinting at a major development that could change the trajectory of the token.
The teaser, which remains shrouded in mystery, has ignited both intrigue and uncertainty, leaving investors questioning whether the downturn is a temporary setback or a prelude to a significant shift in the SHIB ecosystem.
Kusama teases major update
In a move that has left the crypto market speculating, Kusama posted a 23-second video on X, featuring phrases such as “something is shifting” and “the key to the future is about to be unlocked.”
The teaser concluded with the words, “Something big is coming,” raising speculation that a game-changing announcement could be imminent.
While Kusama has remained tight-lipped on what this means for SHIB, the post has triggered discussions about potential partnerships, blockchain upgrades, or the introduction of new utility for the token.
This follows recent hints from the SHIB team about a possible high-profile collaboration that could impact all SHIB ecosystem tokens, including BONE, LEASH, and TREAT.
Despite the excitement, the market response has been negative, with traders offloading their holdings in the face of broader crypto volatility.
The lack of clear details surrounding Kusama’s post has only added to the uncertainty, making it unclear whether the price drop is a temporary dip or a sign of further declines.
Adding to the speculation, SHIB’s development team has remained quiet on whether this upcoming reveal is connected to previous announcements regarding Shibarium, the project’s layer-2 scaling solution.
Some believe it could be a significant expansion of the ecosystem, while others suspect a new product or service launch that could drive adoption.
SHIB price struggles
SHIB is currently trading at $0.00001442, with its market cap shrinking to $8.4 billion.
The recent drop has erased significant gains made in previous weeks, with bearish sentiment dominating the token’s price action.
If selling pressure continues, SHIB could test support at $0.000013, a level not seen in months.
Technical indicators suggest that SHIB’s next key resistance levels are at $0.0000152 and $0.000017, corresponding to the 200-day and 50-day moving averages, respectively.
A successful breakout above these levels could shift sentiment and trigger a price recovery.
However, if the token fails to hold current support, further downside is likely.
The broader crypto market has also faced turbulence, with major assets like Bitcoin and Ethereum experiencing price corrections.
This macro weakness, combined with uncertainty surrounding Kusama’s announcement, has contributed to SHIB’s volatility.
Investors now await further clarity, hoping that the mysterious teaser will translate into a development strong enough to reverse the downtrend.
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