On Feb. 6, 2026, global crypto markets plunged as Bitcoin (BTC) fell to about $62,000 and Shiba Inu (SHIB) dropped to $0.000005. The sell-off followed tighter monetary policy and shrinking liquidity, which spurred broad risk-off behavior.
According to CoinGecko data, SHIB is down 9.2% in 24 hours, 17.7% over the last week, nearly 26% on 14-day charts, and 34.7% over the previous month. Investors who bought near recent highs now sit on heavy unrealized losses.
Shiba Inu (SHIB) trades near levels last seen in July 2021 (Ed. note: this marks a multi-year trough). Analysts say SHIB’s moves mirror Bitcoin and broader market risk sentiment.
Some analysts expect further downside for Bitcoin, with Stifel forecasting a drop to about $38,000. A slide to that level could increase selling pressure on Shiba Inu (SHIB).
Markets showed a modest rebound on Feb. 6, but that bounce may not hold. Memecoins carry higher risk and will likely take longer than other cryptocurrencies to recover.
