SHIB Drops 3.9% to Support Level of $0.058667
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 11 2026- Price Decline: SHIB's price fell by 3.9% to $0.058688, just above the support level of $0.058667, indicating a weak market sentiment that could impact investor confidence in the short term.
- Market Correlation: The decline in SHIB's price, alongside BTC and ETH, has strengthened its correlation with overall market trends, suggesting that the broader cryptocurrency market's weakness may continue to exert pressure on SHIB.
- Concentrated Trading Activity: Trading activity for SHIB is primarily concentrated near the support level, indicating a balanced interaction between buyers and sellers, which lacks strong directional momentum and may lead to narrow price fluctuations in the short term.
- Market Monitoring: Market participants are closely monitoring whether SHIB can maintain its position above the support level of $0.058667; failure to do so could trigger further selling pressure, affecting overall market sentiment.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
