Shiba Inu (SHIB) Outperforms Memecoin Market, Maintaining Support at the $0.000015 Level

SHIB has demonstrated remarkable resilience in the volatile cryptocurrency market, maintaining support at the $0.000015 level despite recent turbulence

Shiba Inu (SHIB) has shown remarkable resilience in the face of volatility in the cryptocurrency market. While most top memecoins faced losses following a major capital injection into Trump Coin and a Chinese tech firm bought nearly 11% of the token's total supply, SHIB managed to preserve its 7-day gains of 25%.

This stability is evident as the memecoin closed Wednesday at $0.000015, decreasing slightly by 3.6% but outperforming many competitors. The broader memecoin market saw its market capitalization decrease to $78.6 billion, presenting a 0.7% decline over 24 hours.

Out of the top ten meme assets, nine faced price drops. Dogecoin (DOGE) decreased by 2.4%, while BONK experienced a 3.5% decrease. Only Pudgy Penguins showed a gain of 8%, bringing its price to $48.7.

This shift in investor sentiment could be attributed to a preference for mid-cap memecoins without ties to U.S. political figures.

At current prices, a $1,000 investment in SHIB would yield approximately 66.6 million tokens. If the token's price returns to its recent March 2025 high of $0.000027, this position would grow to $1,800, presenting an 80% return.

Larger investments demonstrate proportionally similar potential gains. A $5,000 position would yield about 333.3 million SHIB, potentially reaching $9,000 if the token hits its previous high. Similarly, a $10,000 investment could double to $18,000 under the same conditions.

On-chain metrics from Santiment support this positive outlook. Despite the price correction, Age Consumed for SHIB remained flat at 91.4 trillion, indicating minimal selling pressure from long-term holders. This suggests continued confidence in SHIB's prospects among established investors.

Bankless founder and crypto analyst, Ben Armstrong, anticipates a rebound in the memecoin market, which he attributes to a "huge wave of pessimism" that has swept through the crypto sector.

"We're going to see memecoins come roaring back, especially as we get into the latter half of the year. I think memecoins have a lot more upside potential than Bitcoin and Ethereum at this stage of the market."

In other news, a report by Token Terminal has revealed that the total value locked (TVL) in DeFi protocols has hit a 15-month high.

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