---
title: "Why did Shiba Inu drop 6.6% on October 29, 2026?"
language: en
canonical: "https://whycoinmoves.com/en/coins/shiba-inu/2026-10-29"
date: 2026-10-29
---

# Why did Shiba Inu drop 6.6% on October 29, 2026?

A report of broader crypto weakness and memecoin rotation is the clearest possible trigger; derivatives data offer only weak support for selling pressure. No SHIB-specific announcement is established. On October 29, 2026 (UTC), SHIB went from about $0.000005 to $0.000005 (-6.56%) on OKX · USDT, trading between $0.000005 and $0.000005. SHIB largely moved with the market. This is SHIB's largest 24-hour fall in 29 days. No SHIB report was collected from the day before to the day after; the cause is unresolved.

## What may be driving the move

A report of broader crypto weakness and memecoin rotation is the clearest possible trigger; derivatives data offer only weak support for selling pressure. No SHIB-specific announcement is established.

- trigger · medium: A report published Oct 29, 14:07 UTC linked SHIB weakness to a 3% decline in the total crypto market and rotation among memecoins. That broader selling could have pressured SHIB, which later fell from its high.
  Evidence gap: The report does not establish when the move began or independently verify that broader weakness caused it; no specific SHIB news is identified.
  Sources: [S9](<https://coinmarketcap.com/top-stories/6ae3b5771d1ef400a326ab67/>)

- amplifier · low: On OKX, buyer-initiated trading accounted for a smaller share than in the prior 24 hours, while open interest rose slightly and funding turned negative by Oct 30, 00:34 UTC. These mixed signs are consistent with selling pressure possibly adding to the fall.
  Evidence gap: One venue’s data do not show which positions were opened or whether liquidations amplified selling; funding had also been positive earlier.
  Sources: [S5](<https://www.okx.com/api/v5/public/funding-rate-history?instId=SHIB-USDT-SWAP&limit=8>), [S6](<https://www.okx.com/api/v5/public/funding-rate?instId=SHIB-USDT-SWAP>), [S7](<https://www.okx.com/api/v5/rubik/stat/contracts/open-interest-history?instId=SHIB-USDT-SWAP&period=1H&limit=26>), [S8](<https://www.okx.com/api/v5/rubik/stat/taker-volume-contract?instId=SHIB-USDT-SWAP&period=1H&limit=50>)

Open question: The onset of the fall and whether derivatives positioning amplified it remain unknown.

Analysis generated: 2026-10-30T00:35:18.000Z; evidence window: 2026-10-29T00:34:57.000Z → 2026-10-30T00:34:57.000Z.

- Day open / close: $0.000005 → $0.000005 (24 hourly candles, OKX · USDT)
- Day range: $0.000005 – $0.000005
- Versus Bitcoin: -6.56% / BTC -4.11%; About -0.9 points of the move is its own after allowing for Bitcoin
- Versus the past month: Its largest 24h fall in 29 days; -6.56% in the 24 hours to Oct 30, 2026, 00:00 UTC, 4.0× a typical day (1.6%).
- 30-day range: 23.0% below the high · 1.1% above the low; From hourly highs and lows on the same venue
- Other tracked coins: 20 of 21 others also fell 2.2% or more
- 24h volume: 1.7×; of its prior 30-day daily average
- Perpetual swap: funding near zero · open interest flat; OKX perpetual swap SHIB-USDT-SWAP

Computed from OKX · USDT hourly candles for the 24 hours to Oct 30, 2026, 00:00 UTC.

## SHIB timeline around October 29, 2026

Largest closed hourly move: -5.46%, Oct 29, 2026, 20:00–21:00 (UTC).


Prices, market readings and reports are shown side by side; timing alone does not show what caused a move.

## Same-day movers · 2026-10-29 (UTC)

- [Quack AI (Q) -29.02%](<https://whycoinmoves.com/en/coins/quack-ai/2026-10-29>)
- [Pons (PONS) -21.29%](<https://whycoinmoves.com/en/coins/pons/2026-10-29>)
- [Ethena (ENA) -16.29%](<https://whycoinmoves.com/en/coins/ethena/2026-10-29>)
- [NEAR Protocol (NEAR) -14.24%](<https://whycoinmoves.com/en/coins/near/2026-10-29>)
- [Raydium (RAY) -12.52%](<https://whycoinmoves.com/en/coins/raydium/2026-10-29>)

[Shiba Inu (SHIB) price and news](<https://whycoinmoves.com/en/coins/shiba-inu>)
[Methods and limitations](<https://whycoinmoves.com/en/methodology>)