Shiba Inu Coin (SHIB) has been a star of the crypto market in July, with a strong upward trend that now shows signs of correction. In this article, we explain what is happening with the price of SHIB today, why it is falling, and what we can expect in the short term.
📈 Recent price evolution of Shiba Inu
Between June 24 and July 22, SHIB experienced an impressive rise of more than 45%, going from $0.0000109 to a peak of $0.000016. However, today July 23, the price retraced towards $0.000014, generating concern among investors and traders.
❗ Why did the price of SHIB fall today?
1. Take profit
After such a strong rise, many holders have decided to sell part of their positions, creating downward pressure.
2. Technical resistance
The level of $0.000016 has acted as a strong resistance. SHIB failed to break it with sufficient volume, causing a correction.
3. Market context
The market in general (including BTC and ETH) showed slight setbacks, dragging several altcoins, including Shiba Inu.
4. Absence of immediate catalysts
Although the SHIB ecosystem continues to evolve, there was no strong announcement today that pushed the price upward.
🔥 What positive factors remain?
Despite the correction, there are bullish signals in the medium term:
Token burn: more than 22.9 million SHIB eliminated in 24 hours. The burn rate increased by 6,500%.
Whales accumulating: large investors are buying SHIB at these levels.
Shibarium and ecosystem expansion: consolidating as a Layer 2 solution with real utilities.
Technical goal: if it breaks $0.0000176, it could aim for $0.000033, which would represent a new rally. $SHIB $PEPE
📊 Technical analysis: What to expect?
📌 Conclusion
What happened today is not a crash, but an expected technical correction after weeks of gains. The structure of SHIB remains solid, with accumulation, burn, and development metrics that inspire confidence.
Are we facing a pause before the next impulse? It all depends on whether it can overcome key technical levels in the coming days.
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