Only a strong bounce backed by volume can rescue Shiba Inu from deeper downturn | Credit: Hameem Sarwar
Share
Key Takeaways
SHIB was rejected at a key barrier, falling 11% as repeated breakout attempts failed.
The token trades below the 20 EMA and 50 EMA, amid a death cross formation.
Without stronger momentum, SHIB may extend its correction below $0.000010.
Shiba Inu (SHIB) has disappointed traders hoping for a breakout again. After multiple attempts to climb above resistance, SHIB’s price was rejected recently, leading to an 11% decline.
This rejection raises doubts about the meme coin’s ability to sustain upward momentum soon.
Shiba Inu Setup Turns Bearish
SHIB’s recent price action shows the struggle of a market lacking conviction. Bulls tried to push past a stubborn resistance zone, but each rally attempt was met with heavy selling. T
The latest rejection reinforces the strength of this barrier and signals that buyers are not yet strong enough to flip the trend.
The 11% drop was swift. For short-term traders, it wiped out recent gains and confirmed the dominance of bears, while it remains frustrating for long-term holders.
The current structure of SHIB’s chart looks weak. The token trades below its 20-period Exponential Moving Average (EMA), with momentum indicators pointing lower.
Besides the 20 EMA (blue), SHIB’s price has also dropped below the 50 EMA (yellow). A closer look at the chart shows the formation of a death cross, suggesting that the cryptocurrency risks falling below the support line at $0.000010.
Get These Top Crypto Casino Offers Now!
Sponsored
Disclosure
We sometimes use affiliate links in our content, when clicking on those we might receive a commission at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
Beyond SHIB’s individual struggles, the wider crypto environment is not helping. Bitcoin (BTC) prices keep consolidating, and altcoins are being dragged along with them.
While Shiba Inu still enjoys a large community, enthusiasm has cooled. Social media chatter remains active, but it is no longer translating into the type of buying pressure that once fueled SHIB’s price rallies.
SHIB Price Prediction
Looking ahead, the daily chart does not currently offer strong bullish signals for SHIB. Unless broader market conditions improve, a breakout seems unlikely.
As of this writing, SHIB’s price is trapped in a falling triangle on the timeframe. Amid this, the Awesome Oscillator (AO) has dropped to the negative region, indicating declining bullish momentum.
Should this trend remain the same, Shiba Inu’s value might slide below $0.000010 as stated earlier.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
