Shiba Inu (SHIB to USD) traded near $0.00001126 on July 1, down 1.58% in the last 24 hours and about 33% over the past year. The recent drop comes as fear spread through the meme token community after centralized exchanges announced new token delistings.
No Direct Delisting of Shiba Inu, But Fear Spills Over
SHIB itself was not listed among tokens that OKX will remove on July 7. The exchange confirmed plans to delist other spot pairs that did not meet liquidity or activity standards. However, SHIB’s marketing lead, Lucie, said panic was driven by centralized exchanges that can drop coins anytime to push paid listings or control liquidity.
She urged the community to avoid panic, comparing SHIB’s situation to XRP, which survived multiple delistings during its legal fight with U.S. regulators. Lucie pointed to past collapses like FTX and Hotbit as proof that some CEXes fail to protect users over time.
SHIB’s daily volume stands near $119 million, with a market cap of about $6.6 billion. Its volume-to-market cap ratio sits at 1.8% — moderate for a meme token.
In comparison, Dogecoin (DOGE) holds a much larger market cap near $24 billion and is up about 28% over the past year, though it remains more than 60% below its local peak near $0.40 earlier this year. PEPE, another meme peer, has shed nearly 18% year-over-year and trades over 65% below its late 2024 high. This shows that SHIB’s decline aligns with a broader slowdown in speculative meme coins that peaked last cycle.
SHIB futures traders have also cut exposure. Current open interest sits around $78 million, down from highs above $120 million earlier this year. Lower open interest shows that traders are not adding big new leveraged bets.
Shibarium’s 4.5M Daily Transactions Show Ecosystem Still Active
Despite lower price momentum, Shibarium — SHIB’s layer-2 network — still shows daily activity. Latest stats indicate Shibarium processed about 4.51 million transactions in 24 hours, with over 266 million addresses created since launch. Average block times remain stable at 5 seconds, with low gas fees near 1.9 Gwei.
Recent burn updates show that over 410 trillion SHIB have been permanently removed from supply, with daily burns ranging between 10 million and 100 million SHIB. While small relative to total supply, consistent burns are seen as one tool to control circulating supply over time.
Technically, SHIB trades near a key long-term support zone between $0.00001032 and $0.00001150. TradingView data shows a possible double bottom forming on the weekly chart — a structure that sometimes signals trend reversals if buyers confirm a bounce.
The token’s 20, 50, 100, and 200 EMA lines remain above the current price, showing the broader trend is still weak. RSI on the weekly sits near 40, just above oversold territory. If buyers fail to hold the floor, SHIB risks slipping toward $0.00001000. If the double bottom confirms, resistance levels to watch are near $0.00001365 and $0.00001563.
