Shiba Inu price has experienced a significant drop of 60% from its peak in November, mirroring the trends seen with other meme coins. Despite this downturn, Shiba Inu is showing potential signs of recovery after reaching a crucial support level and forming a falling wedge pattern.
A potential turnaround catalyst for Shiba Inu’s price could be the nearing achievement of Shibarium, as it approaches the notable milestone of 1 billion transactions. Investors are closely monitoring this development for potential positive impacts on market performance.