Shiba Inu's Struggle to Maintain $0.0000095 Support Amid Waning Meme Coin Momentum and Shibarium Failures

The Shiba Inu (SHIB) token, once a symbol of meme coin optimism, now faces a critical juncture. After a 78% decline from its 2024 high, SHIB's price action has stabilized near $0.00001030, hovering above the pivotal $0.0000095 support level, according to a FinanceFeeds analysis. However, structural challenges-ranging from underperforming DeFi utility to investor migration to newer projects like Noomez-raise questions about its long-term viability. This analysis evaluates whether SHIB remains a speculative bet or has become a cautionary tale for meme coin investors.

Technical Breakdown: A Fragile Support Level

SHIB's price has oscillated within a narrow range of $0.0000098 to $0.0000106 over the past week, with on-chain metrics reflecting market paralysis, according to a Bitcoinist update. While the token has avoided breaking below $0.0000095, a critical support level, recent net outflows of 19.6 billion tokens signal bearish sentiment, according to a CryptoNewsLand report. A surge in token burns-nearly 30 million SHIB burned in 24 hours-has temporarily offset supply concerns, but this deflationary mechanism remains insufficient to counteract the broader market's waning interest in meme coins, as the FinanceFeeds piece noted.

The price chart below illustrates SHIB's consolidation phase, with the $0.0000095 level acting as a psychological floor. A breakdown here could trigger a cascade of stop-loss orders, pushing the token toward $0.0000085.

DeFi Utility Shortcomings: Shibarium's Stagnation

Shiba Inu's Layer-2 network, Shibarium, was designed to transform SHIB from a speculative token into a functional infrastructure asset. Yet, Total Value Locked (TVL) on Shibarium has remained below $1 million since early October 2025, exposing a structural flaw: SHIB's massive circulating supply (589 trillion tokens) contrasts sharply with its glacial deflationary burn rate, as discussed in a Bitzo analysis. Analysts argue that without meaningful developer activity or ecosystem adoption, Shibarium will remain a "ghost town".

A September 2025 exploit further eroded confidence, with attackers draining $4.1 million from the Shibarium Bridge through a flash-loan-powered governance attack. While the team implemented emergency security measures, including a 7-day withdrawal delay for BONE token transactions, the incident highlighted vulnerabilities in Layer-2 solutions. For SHIB to justify its $6.06 billion market cap, Shibarium must demonstrate tangible utility-something it has yet to achieve.

Whale Activity and Investor Migration: A Shifting Tides

Whale transactions have surged by 70% in the past month, with large investors accumulating SHIB during price spikes in May and July. A Reddit user recently spent $1 million to acquire 120 billion SHIB tokens, signaling short-term bullish sentiment. However, this optimism is tempered by a net outflow of 19.6 billion tokens in late October, suggesting institutional skepticism, according to the CryptoNewsLand report.

Meanwhile, retail investors are increasingly redirecting capital to Noomez (NNZ), a newer meme coin with a structured presale model. Noomez's 28-stage presale, which burns unsold tokens and offers liquidity locks, appeals to investors seeking transparency and scarcity, as noted in the Bitcoinist update. SHIB's flat price action and lack of clear catalysts have made it a less attractive option, particularly as Noomez's TVL and developer activity grow.

Strategic Implications for Investors

For SHIB to regain momentum, it must address three critical issues:
1. Shibarium's Utility Gap: The network needs to attract developers and liquidity providers to justify its TVL and token demand.
2. Burn Rate Acceleration: The current burn rate of ~0.0000003 SHIB per transaction is insufficient to offset the token's massive supply.
3. Market Sentiment Shifts: Meme coins are increasingly viewed as speculative, with capital flowing to AI and DePIN projects offering tangible use cases, a point raised in the Bitzo analysis.

Investors holding SHIB should consider a cautious approach. If the token breaks below $0.0000095, a strategic exit may be warranted. Conversely, a sustained rebound above $0.0000106 could signal renewed interest, but this scenario hinges on Shibarium's ability to deliver measurable progress.

Conclusion: A Cautionary Tale or a Phoenix Rising?

Shiba Inu's journey mirrors the broader meme coin market's volatility. While its token burn rate and whale activity hint at potential, structural challenges in Shibarium and investor migration to Noomez underscore its fragility. For SHIB to transition from a speculative asset to a functional ecosystem, it must demonstrate innovation that transcends its "meme" label. Until then, it remains a high-risk proposition-a token teetering between revival and obsolescence.