On crash Friday, Shiba Inu held up better than the market leader. While bitcoin slipped below $69,000 on Friday evening, SHIB traded at around $0.0000043 at about 21:40 CET, only just over ha
On crash Friday, Shiba Inu held up better than the market leader. While bitcoin slipped below $69,000 on Friday evening, SHIB traded at around $0.0000043 at about 21:40 CET, only just over half a percent lower than 24 hours earlier. Measured in bitcoin, one million SHIB now costs 6,238 satoshi, as much as on October 16. For the coming days, a lot depends on a single zone: the yearly low at $0.00000405.
What the data show: according to the daily figures from Kraken, bitcoin has so far closed the UTC day at $68,840, 9.1 percent below its level a week ago, while SHIB lost 5.4 percent over the same period. Our assessment follows further down: the relative strength is real, but it is no buy signal as long as SHIB closes lower in dollar terms every week. Where the price could head over a horizon of months is set out in our Shiba Inu price prediction and its scenarios.
A satoshi is one hundred millionth of a bitcoin, the smallest unit the blockchain counts in. Expressing the SHIB price in satoshi shows whether the memecoin is doing better or worse than bitcoin, regardless of whether the market as a whole is rising or falling. On Friday evening, the figure stood at 6,238 satoshi per million SHIB. On Thursday it was 6,110, a week earlier 5,993, and on November 8 only 5,831, the lowest level this month.
Turned the other way round, one bitcoin bought around 16.0 billion SHIB on Friday evening, compared with 17.2 billion on November 8. A bitcoin holder who had switched into SHIB five days ago would therefore hold more value measured in bitcoin today than before. That sounds like a gain, but it is only half the calculation: in dollars and euros, both have lost.
According to Coingecko, Shiba Inu cost $0.0000043, or about €0.0000039, on Friday evening. On Kraken, SHIB opened the UTC day at $0.00000436, fell as low as $0.000004155 during the session and stood at $0.000004294 in the evening. The intraday low is the weakest level since July 24, when SHIB dropped to $0.0000041 on Kraken.
The ratio of the SHIB price to the bitcoin price has moved in a clear direction this month. Between November 8 and November 13 it rose by around 7 percent, closing higher on four of five days. It last stood at this level on October 16, at 6,242 satoshi per million SHIB, before falling for a good three weeks.
The mechanism behind it is simple. When bitcoin falls sharply, investors first sell what they hold most of and can offload most easily. That means bitcoin itself, plus ether and the large listed names. A memecoin like SHIB, which has already lost a good 42 percent since the start of the year, has part of that selling pressure behind it. In such phases it sometimes falls less than bitcoin, even though it is generally regarded as riskier.
How little this says about the direction in dollars becomes clear over a longer period. Since January 1, SHIB has lost 42.4 percent on Kraken and bitcoin 22.4 percent. Since October 1, the score is 25.9 to 18.9 percent. Only over the last 30 days are the two level, each down a good 15 percent.
Below SHIB, the zone of June's yearly low is the last secured hold.
In Thursday's Shiba Inu price prediction, funding for the SHIB perpetual on OKX stood at minus 0.0074 percent, the long ratio at 2.37 and the intraday low at $0.00000422. A good 24 hours later, the picture has shifted in two places. Funding is back in positive territory: at the settlements at 09:00 and 17:00 CET it stood at 0.01 percent on OKX each time, the usual standard rate. Shorts are therefore no longer paying; longs are paying again at the normal level.
The second shift concerns the intraday low. The zone around $0.00000422, still the lowest point since July on Thursday, did not hold on Friday. SHIB fell below it to $0.000004155 and recovered to just under $0.0000043 by the evening. The long ratio, meaning the ratio of accounts betting on rising prices to accounts betting on falling prices, rose to 2.48 according to OKX data for Friday. It was last higher on November 2, at 2.81.
Wednesday's measurement, according to which SHIB reacts to bitcoin moves with a factor of 1.36 over 90 days, therefore clearly does not apply this week. For two days in a row, SHIB fell markedly less than bitcoin. Such a factor describes an average over many weeks and says little about individual days on which selling pressure mainly hits bitcoin.
On Friday, the pressure came from bitcoin. After Nvidia chief executive Jensen Huang stepped down on Thursday and new US producer prices were published, the sell-off continued into Friday. According to Coingecko, bitcoin fell 3.5 percent within 24 hours to about $68,835, with an intraday low of $67,922. In the morning, bitcoin had dropped below $70,000 on Kraken for the first time since August 20.
SHIB largely missed that downward push. This suggests that large sellers had already exited SHIB this week. One indication: trading volume in SHIB contracts on OKX rose to about $11.9 million on Friday, the highest since October 28, while the price eased only slightly. Heavy turnover with a small price move means buyers absorbed the selling.
Our assessment: SHIB's relative strength is clearly visible in the data, and on Friday it reached its highest level in four weeks. Against that, the price in dollar terms remains below all the key moving averages, and Friday's intraday low was lower than Thursday's. That is not yet a bottom. Anyone investing in SHIB should be able to cope with a total loss.
A second look at the futures market shows a mixed picture. Open interest, the value of all contracts not yet closed, stood at about $6.3 million on OKX on Friday evening, almost unchanged from the previous week. No large-scale new positions have therefore been opened.
At the same time, taker volume shows who had the initiative on Friday. Takers are traders who accept an existing order immediately instead of waiting for a better price. Selling takers turned over about $6.16 million on OKX, buying takers about $5.66 million. The surplus on the sell side was thus around half a million dollars, a small figure for a day of falling bitcoin.
The rising long ratio fits a pattern that had already emerged in the previous days: many smaller accounts are betting on a recovery while a few larger positions are selling. That funding is nonetheless only at the standard rate, and not higher, shows that the long side is not overheated.
Sentiment in the futures market points to storm for SHIB, while funding is back in its normal range.
For the outlook over the coming days, the ratio to bitcoin matters less than the position in dollars. SHIB hit its yearly low on Kraken on June 25, at $0.000004048. In July the price tested the zone several times, falling to $0.000004059 on July 17 and to $0.0000041 on July 24. It then jumped and closed at around $0.0000053 on July 26.
On the upside, the levels are further away. The average of the last 20 daily closes stands at about $0.00000461, the 50-day average at about $0.0000051 and the 200-day average at about $0.00000508. SHIB is trading below all three. Between Friday evening's price and the yearly low lies a gap of a good 6 percent; to the 20-day line it is a good 7 percent.
Recovery scenario: if the relative strength holds and bitcoin stabilises, SHIB could climb back to $0.0000045. That is where the daily highs of November 9 to 11 were. A close above it would open the way to the 20-day line at $0.00000461. The precondition is that bitcoin does not slide further towards $65,000. Even a strong memecoin cannot escape a double-digit drop in the market leader for long.
Sell-off scenario: if SHIB falls below Friday's intraday low of $0.000004155, the zone from $0.0000041 to $0.00000405 comes into view. A break below it would take SHIB to its lowest level in Kraken's daily data since November 2024. The relative strength against bitcoin would then be worth little, because liquidations of the many small long accounts would add selling pressure.
Which scenario plays out will be decided more by the overall market than by SHIB itself. There is no date with its own impact on SHIB before November 20. The pace is set by US data and flows into bitcoin ETFs.
Swapping SHIB for bitcoin or the other way round can have tax consequences depending on where you live; tools from our crypto tax software comparison record every swap with date, amount and price.
For leveraged traders, the situation has changed since Thursday. With funding of 0.01 percent per eight-hour settlement, a long position with €1,000 of margin and tenfold leverage, i.e. €10,000 in volume, pays about €1 per settlement and about €3 a day. Over a week that adds up to a good €20, a good 2 percent of the margin, regardless of how the price moves.
The liquidation level weighs more heavily. A long with tenfold leverage opened at $0.0000043 is closed, depending on the exchange, after a decline of around 9 to 10 percent, i.e. at about $0.0000039 and thus below the yearly low. Anyone who sees the zone around $0.00000405 as a safety net needs much lower leverage. The terms of the platforms are set out in our perp DEX comparison.
(As of November 13, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)
