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As 2024 comes to an end, a dog-themed cryptocurrency Shiba Inu (SHIB) is at a pivotal moment. The cryptocurrency market is in the grip of a selloff as traders reevaluate their positions heading into 2025, with liquidations totaling more than $280 million in the past 24 hours.
This sell-off put pressure on the SHIB price, pushing it towards a critical support zone that could determine its fate over the coming year. According to a crypto analyst Ali MartinezShiba Inu’s most important support zone lies between $0.0000215 and $0.0000193.
This range is critical for SHIB maintain current price levels and avoid further losses in the short term. If Shiba Inu fails to hold this support, it could fall to $0.0000187, which coincides with the daily SMA 20.
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On the other hand, this range could serve as a floor for the Shiba Inu’s rise, which would target $0.0000257, with further breakouts targeting $0.00003 and $0.000033.
At the time of writing, SHIB was trading within this range, down 2.02% over the past 24 hours to $0.0000212.
Shiba Inu highlights in 2024
Lucie, a member of the Shiba Inu team, shared the highlights of 2024. Shib’s identity and the D3 partnership were announced in January, setting the tone for 2024.
In February, the Shiboshis NFT collection was made available to Shiboshi holders for free. March marked the launch of the Shib Name Service (SNS) on D3, as well as a partnership with ZAMA to integrate Fully Homomorphic Encryption (FHE) into Shibarium, Shiba Inu’s Layer 2 solution.
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Shiba Inu raised $12 million from institutional investors to build its privacy-focused blockchain in April. In May, the Shibarium hard fork and ShibaSwap 1.5 were revealed.
In July, Shibarium reached six million blocks for the first time. August marked the fourth anniversary of Shiba Inu and the first anniversary of Shibarium with the TREAT Yourself tour. In September, the ShibDev Portal and NFT Bridge were launched, opening new doors for developers and creators. October brought milestones such as ShibaSwap 2.0, Fiat on-ramps and a Delorean ad.
Bury 2.0, the Shiba Eternity Tournament and the GetBlock partnership were milestones in November. December saw the launch of Shib: The Metaverse, integrating Chainlink with Shibarium alongside multi-chain burns. This year, 35.6 billion SHIB tokens were also burned.
Regarding expectations for 2025, Shiba Inu leader Shytoshi Kusama recently said on X: “Next year is going to be epic, and I’m so excited to share what we’ve built.”