Panic has gripped the crypto market as Bitcoin (BTC) fell to the $62,000 mark earlier today, Feb. 6, 2026. Shiba Inu (SHIB) also suffers the same fate, dipping to the $0.000005 price level. According to CoinGecko data, SHIB’s price is down 9.2% in the last 24 hours, 17.7% in the last week, nearly 26% in the 14-day charts, and 34.7% over the previous month. Shiba Inu (SHIB) investors are distraught, wondering if the asset’s price is at its bottom, or will it crash further. Let’s discuss.
Is Shiba Inu’s Price At Its Bottom, Or Is More Bad News On The Way?
Shiba Inu (SHIB) is currently trading at levels last seen in July 2021. Investors are sitting on heavy losses, especially those who bought the asset at the top. SHIB’s price is currently following Bitcoin’s (BTC) trajectory, and may not rebound until the original crypto registers some positive price action. Some analysts anticipate BTC to fall further. Stifel anticipates BTC’s price to dip to the $38,000 level. BTC falling to $38,000 could pull Shiba Inu (SHIB) further down.
However, the market seems to be making a slight rebound today. Although the rebound may see a rejection, it could also signal a bottom. Shiba Inu (SHIB) currently hangs on a thread. The market-wide crash comes amid tighter Federal Reserve policies and a shrinking liquidity crisis. Macroeconomic worries and geopolitical tensions have added further fuel to the fire.
Additionally, market participants took a risk-off approach with their investments. Shiba Inu (SHIB) being a memecoin carries some of the highest risks in the market. Memecoins will likely take much longer to recover than other cryptocurrencies.
Also Read: New Shiba Inu Price Prediction Says SHIB May Hit $0.0004: Here’s When
Given the uncertain environment and the bearishness that looms over the market, it is unclear if Shiba Inu (SHIB) is at its bottom, or if the asset’s price sill fall further. However, if Bitcoin (BTC) does not recover from its depths, SHIB will likely face additional sell pressure.
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