Shiba Inu (SHIB) Memecoin Faces Market Volatility

Shiba Inu (SHIB), the prominent Ethereum-based memecoin, is facing market volatility on Wednesday, March 19, 2025.

Shiba Inu (CRYPTO: SHIB) prices were lower on Wednesday. As the broader crypto market showed signs of volatility, traders are keeping an eye out for several key Shiba Inu price levels, institutional investor activity and token burn numbers.

What Happened: As of press time, SHIB prices had dropped by 3.67% in the past 24 hours to $0.00001280.

According to CoinMarketCap, Shiba Inu had a market cap of $7.54 billion and a 24-hour trading volume of $149.29 million. The token's price had risen by 1.42% over the week.

Shiba Inu prices opened the current trading session at $0.00001215, a level which technical analysis suggests could be an important support threshold. A failure to maintain above this mark may invite additional selling pressure, potentially leading to a 10% decline in the token's value, reaching the next significant Fib retracement level at $0.000011.

Shiba Inu prices had risen by 1.42% over the past seven days.

Several analysts remain optimistic on SHIB in the long term. Crypto analyst Javon Marks continues to see substantial growth potential if SHIB can break through key resistance levels.

Shiba Inu is known for its strong community engagement, which is evident in the form of memes and the creation of fan-made tokens.

Recently, there has been an increase in transactions from major SHIB holders, those executing trades exceeding $100,000, rising by 365%, as per the latest analysis by U.Today. This renewed activity follows months of relative inactivity and suggests potential institutional confidence returning to the asset.

The token’s burn rate has also gone up, advancing 640% in the past 24 hours, according to Coinpedia. However, the reduction in circulating supply has yet to translate into significant price appreciation, indicating conflicted market sentiment.

At the same time, the decline in trading volume, decreasing 16% to $149.29 million, further suggests retail investor hesitation.

Shiba Inu Price Action: According to data from Benzinga Pro, the pivot point for the token was at $0.0000126.

The first resistance level was at $0.0000129, followed by the second resistance at $0.0000132 and the third resistance at $0.0000135.

The first support level was at $0.000122, followed by the second support at $0.0000119 and the third support at $0.0000116.

Shiba Inu Price Prediction: Price forecasts from leading analytical platforms Wallet Investor and CoinCodex suggest varied outcomes for SHIB today.

According to predictions by CoinCodex, the average price forecast from eight technical analysis indicators and seven analysts suggest a slight upward bias in the near term.

However, technical analysis signals are mixed, with 13 indicators providing bullish signals and 14 suggesting bearish trends.

According to data from CoinMarketCap, the community sentiment is slightly bullish, with 52% of voters anticipating a positive price development in the next seven days.

Shiba Inu's price showed strength on Wednesday morning, bouncing back from the third support level at $0.0000116 and trading above the first support level at $0.0000122. The token was also able to maintain a position above the pivot point at $0.0000126.

Despite the immediate challenges, SHIB's underlying technological infrastructure through the Shibarium Layer-2 scaling solution and ShibaSwap (BONE) continues to provide fundamental support, according to CoinPedia.