Shiba Inu crashed to a new low, reaching $0.0000085 on Friday, its lowest level in 2025 so far.

The drop coincided with a broader crypto market crash referred to as the "largest liquidation event in crypto history."

Crypto traders were hit by record liquidations, with volatility triggered in large part by macroeconomic concerns, although market weakness had already been present coming into Friday.

Over the past 24 hours, $19.36 billion has been wiped out, and over 1.6 million (1,666,610) traders liquidated, according to CoinGlass data.

CoinGlass in a tweet described the market sell-off as the "largest liquidation event in crypto history," adding that the actual total might likely be much higher as Binance only reports one liquidation order per second.

SHIB hits 2025 floor

Shiba Inu fell sharply to a low of $0.0000085 on Friday, from a high of $0.00001215, building on an earlier drop in the week. Shiba Inu has steadily declined from a high of $0.00001302 on Oct. 6, marking two out of three days in red since this date, with Friday marking the third day and the largest of the drops.

The positivity is that Shiba Inu bulls quickly swooped in to arrest the decline, with Shiba Inu sharply rebounding to erase the extra zero added, currently trading above $0.00001.

At the time of writing, Shiba Inu was still lower, down 11.86% in the last 24 hours to $0.00001087 and down 16% weekly.

Going forward, it will be watched to see if SHIB sustains above $0.00001 in order to target $0.0000125 and $0.000013.

Momentum indicators are hinting at oversold signals, suggesting Shiba Inu may face a relief rally or at least a dead cat bounce in the coming sessions.

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