Peter Smith
Shiba Inu is in a tight spot. The meme coin is testing support between $0.000008 and $0.000013, where 91.61 trillion SHIB tokens are sitting across 302,740 wallets. If this level holds, we might see a bounce. If not, things could get ugly.
SHIB dropped 5.28% to $0.00001272 and has been sliding for three days since hitting $0.00001437 on July 28. The timing's rough with the Fed's rate decision coming Wednesday, adding extra market nervousness.
SHIB (Shiba Inu) Fighting Key Moving Average
SHIB is right at its 50-day moving average of $0.00001265, which has been super important this cycle. Sometimes it acts like support, other times like resistance. Right now, SHIB is barely hanging above this level.
The bulls are trying to defend it, but they're under pressure. If they hold here, buyers might get confident enough to push prices up. But if this breaks, SHIB could test much lower levels.
Shiba Inu (SHIB) Price Eyes $0.00001 Drop
That $0.000008-$0.000013 range is one of SHIB's biggest accumulation zones according to IntoTheBlock data. It's where tons of investors have skin in the game.
If SHIB can't hold the 50-day moving average, next stop could be around $0.00001 - a big drop that would shake out weak hands. But with 302,740 addresses holding in this range, there's serious incentive to defend these prices.
SHIB swings harder than most cryptos when sentiment shifts, and with Fed uncertainty hanging over everything, there's extra volatility risk. The next few days will decide whether SHIB bounces back or breaks down to test $0.00001 support.
Peter Smith
