- Shiba Inu dropped by almost 3% in the last 24-hours.
- One of the whales sold 14.5 billion SHIB tokens recently.
- T. Rowe Price updated S-1 filing which keeps SHIB in the ETF asset list.
Shiba Inu, also known as “Dogecoin killer,” has taken a hit. In the last 24-hours, the price of the token dropped by 3% and is hovering around $0.00000611. What makes this more noticeable is the fact that the entire crypto market is actually going up and SHIB is falling down.
Bitcoin, which is the biggest cryptocurrency by market cap, rose by 1.35% today, March 17, 2026. The total crypto market value has also increased to $2.53 trillion.
At press time, the price of the SHIB token stands at $0.000006093 with a drop of 3.43% in the last 24-hours as per CoinMarketCap.
It has been observed that when the market is doing well, smaller coins, memecoins like Shiba Inu follow the trend. However, this time around, SHIB seems to be moving in the opposite direction. So basically, the big players are gaining back their control and Shiba Inu is struggling on its own.
A Big Investor Selling Caused the Drop
The main reason behind this fall in price is because large investors, which are also called the whales, are selling huge amounts of SHIB tokens. On March 15 and 16, one of the investors sold around 14.5 billion SHIB tokens on an exchange as per Arkham Intelligence.
The investor did sell a huge amount of tokens and on top of that they sold these tokens at a loss of about 83%. This means that they held the tokens for a long time but they still decided to make an exit at a heavy loss.
The whale bought these SHIB tokens for $506,830 from Binance near the market peak in March 2024 of $0.00004567. On March 15, the address sold the tokens for $84,640, incurring an estimated loss of around $422,190, representing a staggering 83% portfolio decline. Since the March 2024 peak, the price of Shiba Inu has gradually declined, dropping 86% to its current value.
This situation seems like the one where someone waited years hoping for a stock to rise, but eventually gave up and sold it for much less than what they had paid for. When such a big holder sells, it increases supply in the market suddenly. And when the supply rises faster than demand, prices usually fall. That’s exactly what happened here.
No Strong Support From the Market
Another reason why SHIB is struggling is because there is a lack of strong positive momentum. Other memecoins are not showing a clear trend as of now, some are going up, others are falling. So, there is no strong group rally that is helping SHIB gain.
Moreover, Shiba Inu price is currently trading below its 30-day average price, which usually indicates weakness. At the same time, its RSI (Relative Strength Index) is around 50, which indicates that there is a neutral market, as there is no strong buying nor is there any heavy selling.
A Possible Positive: ETF News
There is also a hopeful development that has been making headlines recently. T. Rowe Price has updated its S-1 filing for a proposed crypto ETF and Shiba Inu remains included as one of the assets the fund can invest in.
This ETF product allows investors to invest in crypto without having to buy the crypto. This is important because big institutional investors usually prefer ETFs rather than purchasing crypto directly and then managing it.
If this ETF product gets approved, there is a possibility that it could bring in fresh money into SHIB. Similar ETF developments have previously helped boost major cryptocurrencies by attracting large-scale investments.
What Lies Ahead For Shiba Inu
As of now, Shiba Inu is feeling the heat from whale selling and weak signals, so short-term pressure is not going anywhere fast. But it’s not all doom, ETF buzz and ecosystem progress is something that may keep the hope alive. For now, it’s all a wait and watch game.
Also Read: Shiba Inu Price Faces Pressure as SHIB Burn Rate Drops 45%
