Shiba Inu (SHIB) Slides to $0.00000447 After $0.00000500 Break
Key Takeaways
- •SHIB traded near $0.00000447 on November 9 after breaking below the $0.00000500 level, a round-number threshold commonly treated by traders as informal support.
- •The token's daily chart now reflects bear-market conditions, based on extended trading beneath the 200-day moving average used as a long-term trend gauge.
- •The broader crypto market mood moved from fear toward neutrality, consistent with the scale used by the Crypto Fear & Greed Index.
- •SHIB changes hands approximately 95% below its all-time high of roughly $0.000088, which was reached in late October 2021.
- •Launched on Ethereum in August 2020, the SHIB ecosystem has expanded to include the ShibaSwap decentralized exchange and the Shibarium layer-2 network introduced in August 2023.
Shiba Inu (SHIB) extended its decline on November 9, trading near $0.00000447 after the psychological $0.00000500 level gave way, COINOTAG reported. The move arrived as the broader market's tone shifted from fear toward neutrality.
On the technical side, the daily chart now carries the structure of a bear market, with the 200-day moving average at the center of that assessment. The 200-day moving average, which tracks a token's average price across roughly 200 trading days, is widely used by traders as a long-term trend gauge, and extended trade below it is conventionally described as bear-market territory. The loss of the round-number $0.00000500 threshold, a psychological reference point for the token, marked the latest leg of the slide; round-number levels are commonly treated by market participants as informal markers of support and resistance.
The report's reference to a mood shift from fear toward neutrality aligns with the convention of the widely followed Crypto Fear & Greed Index, which scores market sentiment on a scale from 0 (extreme fear) to 100 (extreme greed) and treats readings near its midpoint of 50 as neutral.
Background: What Is SHIB?
Shiba Inu is a dog-themed token issued on Ethereum in August 2020 by the pseudonymous creator Ryoshi. It launched with a total supply of one quadrillion tokens, half of which was transferred to Ethereum co-founder Vitalik Buterin. In 2021, Buterin donated a portion of that holding to India's COVID-Crypto Relief Fund and permanently burned the remainder, removing it from circulation.
The ecosystem has since expanded to include ShibaSwap, a decentralized exchange, and Shibarium, a layer-2 network rolled out in August 2023.
SHIB set its all-time high of roughly $0.000088 in late October 2021, during that year's meme-token rally. At the $0.00000447 level quoted on November 9, the token changes hands about 95% below that record. As a meme token, SHIB is frequently discussed in terms of community attention and overall market sentiment, the same factors tracked by gauges such as the Fear & Greed Index.
This report was first published on COINOTAG: https://en.coinotag.com/shiba-inu-shib-slides-0-00000447-after-0-00000500-break
