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Shiba Inu extended losses on Saturday, hitting an intraday low of $0.00000544 amid intensified selling pressure in cryptocurrency markets. The move came after SHIB briefly tested the $0.00000555 level, which failed to hold as bearish momentum picked up across digital assets. At press time, SHIB was trading at $0.00000556, down 4.52% over the last 24 hours.
The broader market also took a significant hit, with more than $515 million in crypto positions liquidated within the same 24-hour window. Most major tokens were down on a weekly basis. For SHIB specifically, seven-day losses widened to 14.6%, reflecting sustained pressure that began earlier in the week.
The sell-off was linked to a U.S. producer price index report released Friday. The data showed producer prices rose more than analysts had anticipated, stoking concerns about lingering inflation. That development reinforced expectations that the Federal Reserve will hold interest rates steady in the near term. Rate-sensitive assets, including cryptocurrencies, sold off in response.
Shiba Inu team member Lucie said the decline was driven by three main factors. First, hotter-than-expected macroeconomic data—specifically the PPI print—shook investor confidence. Second, there was a pullback in artificial intelligence and technology stocks, which have historically dragged risk assets lower alongside broader market sentiment. Third, macroeconomic uncertainty rose, prompting both institutional and retail investors to move toward safer positions.
Lucie characterized the environment as “a classic risk-off day.” In such conditions, crypto often experiences outsized losses relative to traditional assets, a pattern that played out during Saturday’s downturn.
The Crypto Fear and Greed Index supported that framing, registering 14 at the time of writing and placing the market in “extreme fear.” Readings at this level typically reflect widespread caution and reduced appetite for speculative positions. The article noted that historically such readings have preceded short-term bounces, though they do not guarantee immediate recovery.
Technically, SHIB’s Relative Strength Index (RSI) dropped below 30 on several lower time frames, a threshold often associated with oversold conditions. The article said this can increase the odds of a relief rally or at least a short-term bounce, sometimes referred to by traders as a “dead cat bounce” within a broader downtrend.
On the upside, resistance levels were highlighted as key areas to watch. The $0.000007 level aligns with the 50-day moving average on the daily chart, while a stronger ceiling sits at $0.00000949, corresponding to the 200-day moving average. Clearing these levels would be necessary for a more sustained recovery, according to the article.
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