SHIB Dips 14.8% in a Week as Team Stresses Long-Term Utility

SHIB Price Dips 15% in Over a Week, but Team Points to Long-Term Utility as Key

The Shiba Inu (SHIB) token has seen a 14.80% drop in value over the past week, with its price currently trading at around $0.00001202[1]. Despite this decline, the SHIB team remains focused on long-term growth, continuing to advocate for the token’s potential to reach $0.01. Key figures within the project, such as the marketing lead Lucie, have reiterated confidence in the asset’s future, emphasizing the team’s commitment to enhancing SHIB’s utility across the ecosystem[1].

Lucie, a SHIB holder since 2021, has consistently supported the $0.01 price target, noting that while progress may be slow, the foundation is being laid through ongoing development efforts[1]. She highlights the importance of ecosystem expansion, including projects like Shibarium, ShibaSwap, and Shiba Eternity, all of which aim to create more real-world use cases for SHIB. Additionally, the gas fee mechanism on Shibarium contributes to SHIB burning, a process designed to gradually reduce the token’s large supply[1].

However, recent market conditions have posed challenges. The ongoing high interest rate environment, combined with renewed geopolitical uncertainty from former U.S. President Donald Trump’s proposed tariffs, has led to a broader market downturn. SHIB dropped to as low as $0.00001179 before a slight recovery[1]. Over the past 24 hours, the token has declined by 0.90%, further underlining the downward pressure. Technical indicators show signs of weak momentum, with the RSI (Relative Strength Index) approaching oversold territory at 35.88. Meanwhile, the MACD line remains below the signal line, signaling continued bearish sentiment[1].

A further concern among investors is the declining SHIB burn rate. In the last 24 hours, the burn rate dropped by 73.24%, with only 2.03 million tokens burned—well below the previous 3.2 million[1]. While token burns play a role in reducing supply, a sustained and significant burn rate is necessary to support long-term price appreciation.

Despite these short-term challenges, the SHIB team remains focused on strategic development and utility expansion. Whether these efforts will translate into broader market acceptance and price recovery remains to be seen, but the team’s long-term vision continues to anchor SHIB’s narrative.

Source: [1] SHIB Price Dips 15% in Over a Week, but Team Points to Long-Term Utility as Key (https://coinedition.com/shiba-inu-shib-price-0-01-target-market-analysis/)