The wider crypto market saw selling pressure during the Asia session on Wednesday. Meme coins were impacted in the crypto market drop, with Shiba Inu recording a near 5% drop in the last 24 hours.
Wednesday’s drop suggests a rise in risk-off sentiment from traders. U.S. equities also fell in pre-market trading, with the Nasdaq 100 futures dropping as well.
The crypto market has seen over $465 million in liquidations over the past 24 hours, with longs accounting for over 50% of the figure. This is in stark contrast to the trend seen over the last two days, when shorts faced the brunt of liquidations.
Meme coins surged in early 2026, with dog-themed tokens, including Shiba Inu, posting double-digit gains. Shiba Inu saw four days of sharp increases at 2026’s start, reaching a high of $0.00001017 on Jan. 5 before it declined.
At the time of writing, SHIB was down 4.96% in the last 24 hours to $0.00000896 and up 26.69% weekly.
Shiba Inu volume crashes 53%: Is it concerning?
Amid the market drop, Shiba Inu trading volumes have dropped 53.33% in the last 24 hours to $194.67 million, according to CoinMarketCap data.
More often, trading volumes might reflect trader positioning in the markets. In this case, a drop might suggest less activity.
Shiba Inu’s trading volume drop aligns with the broader drop in the markets, as liquidity remained thin following the sell-off in the last few months of 2025.
According to on-chain analytics platform Glassnode, Bitcoin and aggregate altcoin spot volumes reached their lowest levels since November 2023.
Glassnode highlighted a weakening demand despite the price surge seen across the market at 2026’s start, with the volume drop suggesting thin liquidity.
The good news is that the meme coin market’s dominance is seeing a rebound after reaching rare lows last December. If this trend is sustained, it might usher in a massive meme coin season where tokens see significant price surges.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
“Don’t Buy Kaspa” Analyst Sparks Debate, Says SHIB Is the Better Bet
A fresh debate around Kaspa and Shiba Inu has picked up after a blunt statement from a crypto analyst questioned the value of KAS. The comment did not hold back, calling Kaspa a “shitcoin” and pointing investors toward Shiba Inu as the stronger option based on adoption and market presence.
CaptainAltcoin1h ago
Shiba Inu (SHIB) +200 Billion Exchange Inflow Threshold Extremely Close: 24-Hour Increase - U.Today
Does it even matter?
Shiba Inu stays down
Exchange-related metrics indicate a significant change in market behavior, and Shiba Inu is getting close to a critical on-chain threshold. Exchange reserves have increased significantly, according to recent data, and are currently close to the +200
UToday15h ago
Crypto Market Review: 3 Key XRP Levels Just Collided, Critical Shiba Inu (SHIB) Test for Upcoming Resistance, Ethereum (ETH) Might Lose $2,000 Next Week - U.Today
XRP's short-term momentum
Shiba Inu ready for more
Ethereum's bearish short-term outlook
Ethereum's main barrier
XRP is getting closer to a technically crucial area, where a number of support factors are coming together, which could be a turning point in price movement.
The 26
UToday18h ago
