- SHIB remains the foundation of its ecosystem, with long-term potential despite recent price fluctuations and market downturns.
- Technical indicators show SHIB may be nearing an upward reversal, with key support levels and weakening bearish momentum.
The Shiba Inu (SHIB) team is affirming its belief in the network’s long-term vision. Despite price fluctuations that have moved its position among the top 20 cryptocurrencies, the Shiba Inu team remains strong, with Lucie, the SHIB marketing lead, proclaiming, “SHIB is our BTC.”
Lucie’s statement about SHIB being the equivalent of Bitcoin in the Shiba Inu community acts as a reminder of the project’s long-term capability. While Bitcoin acts as the foundation of the crypto market, SHIB is positioned as the base of its ecosystem, which includes the SHIB token, BONE, and Shib.
Shiba Inu Ecosystem: Beyond a Meme Coin
Lucie emphasized that Shiba Inu is an expanding blockchain-based ecosystem with multiple tokens and a metaverse project. This solidifies the idea that the Shiba Inu project is more than a meme coin, challenging the belief that it is simply a short-term speculative asset.
According to Lucie, despite recent challenges, SHIB’s ecosystem remains strong and has hope for the future. This message comes at a time when many assets, including SHIB, are experiencing price pressure due to market-wide downturns.
When I say SHIB, I mean the SHIB ecosystem.
SHIB is our BTC.
For me, that means everything—TREAT, BONE, SHEB, LEASH, Shiboshis, and Shib: The Metaverse.
We are building and moving forward.
The market was liquidated due to political fear-mongering and manipulation, but there’s…
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) March 10, 2025
SHIB’s Current Market Position
The recent downturn in the crypto market has affected many digital assets, with SHIB experiencing a decline. As of press time, SHIB was trading at $0.00001168, recording a 6.17% decrease in the last 24 hours.
Source: CoinMarketCap
This drop has also been reflected in the token’s market capitalization, which stands at $6.88 billion and a trading volume of $468.46 million. However, Lucie acknowledged the volatility and linked it to market influence rather than any general weakness within the Shiba Inu ecosystem.
SHIB’s price movement has regularly declined in current market conditions, signaling investor caution. However, some analysts suggest that SHIB may be nearing the end of its falling wedge pattern, which could signal a possible reversal in the coming weeks.
According to data shared by @CW8900, a crypto analyst, SHIB’s price movement is currently following a falling wedge pattern, which may indicate an upcoming reversal. The analysis highlights that SHIB has experienced a series of lower highs.
However, the support zone, marked by the green zone on price charts, is necessary. If SHIB stays above this support level, as noted in our previous report, it could recover toward previous resistance levels.
Source: X
Technical analysis of SHIB further suggests that the token is entering a support level, with indicators such as the RSI and the MACD showing signs of an upcoming reversal. The RSI currently stands at 32.89, showing that SHIB may be oversold and due for a price bounce.
Source: TradingView
Moreover, the MACD, while still in bearish territory, shows signs of weakening momentum, suggesting that the downward trend could be losing strength. Despite the current bearish sentiment, the technical indicators suggest that SHIB could be poised for an upward move if buying pressure increases.
