Dogecoin News Today: Whales and Waning Hype: The Battle for SHIB’s Future

Shiba Inu (SHIB) has recently formed a potential double bottom pattern, a technical chart formation that analysts suggest could signal the beginning of a price rally. This pattern typically emerges after a price decline and is characterized by two distinct troughs at similar levels before a recovery. The first trough occurred in early 2025, with SHIB trading near $0.00000920 before rebounding. The second trough followed shortly after, with a similar price level again forming, before a modest recovery to $0.00001227 at the time of reporting [3]. Analysts view the formation of this double bottom as a sign of waning selling pressure and a possible accumulation phase by large investors, commonly referred to as "whales." Whale activity has been a consistent feature throughout SHIB’s price history, with major movements often following large on-chain transactions [1]. However, the broader altcoin market remains cautious, with many investors adopting a wait-and-see attitude ahead of any significant institutional or regulatory developments [2].

Despite the technical signal, SHIB has faced considerable challenges in 2025, with its price dropping over 42% year-to-date. At $0.00001227, SHIB is currently trading at 86% below its all-time high of $0.00008845, which was reached in 2021. The decline has been attributed to a combination of macroeconomic pressures, fading community interest, and intense competition from other meme coins. Tariff wars and recession fears have created a general bearish sentiment in the crypto market, which has weighed on altcoins like SHIB, even as Bitcoin stabilized above $110,000 [1]. Additionally, meme coin rivals such as Dogecoin, PEPE, and BONK have drawn attention away from SHIB, contributing to a lack of demand [3].

One of the most cited reasons for SHIB’s struggles is the fading hype that once propelled it to prominence. The coin’s community, once a driving force behind its early success, has seen diminishing participation as investors shift focus to newer tokens. Institutional interest has also been minimal, with no U.S. spot ETF application for SHIB. Meanwhile, rival projects are gaining traction, with Dogecoin benefiting from renewed interest tied to Elon Musk’s public support and potential integration with X (formerly Twitter) [2]. The absence of institutional backing and regulatory clarity has made it difficult for SHIB to attract the kind of capital inflow that could drive a significant price recovery.

Despite these challenges, the project has made some progress in expanding its utility. The launch of Shibarium, a Layer 2 network, has reduced transaction fees and added DeFi and NFT capabilities. However, real-world adoption has been limited, and SHIB remains largely dependent on speculative demand rather than functional use cases. The token burn campaign, which has destroyed over 410 trillion tokens since 2021, has also failed to move the needle on price. With an enormous supply of approximately 589 trillion tokens remaining, the path to significant appreciation remains unclear [3].

Looking ahead, the market’s reaction to SHIB will likely depend on broader crypto sentiment and the project’s ability to deliver on its roadmap. The completion of key initiatives, such as the privacy Layer-3 blockchain slated for Q4 2025, could help reinvigorate interest. For now, SHIB’s double bottom formation offers a glimmer of hope, but analysts caution that a successful rally will require more than just technical signals—it will need sustained investor confidence and a compelling narrative that aligns with the current market environment [1].

Source:

[1] Best Crypto to Buy for 2025: BlockDAG Leads as SHIB... (https://coincentral.com/best-crypto-to-buy-for-2025-blockdag-leads-as-shib-doge-and-hyper-fight-for-relevance/)

[2] Here Are Major Reasons Behind Shiba Inu Struggles in 2025 (https://thecryptobasic.com/2025/09/01/here-are-major-reasons-behind-shiba-inu-struggles-in-2025/)

[3] Shiba Inu Vs Dogecoin Price Predictions & Why XRP 2.0... (https://www.mitrade.com/insights/news/live-news/article-3-1082911-20250831)