Peter Smith
⬤ SHIB is stuck below a critical price ceiling after failing to push past $0.00000815. What used to work as a support floor has now flipped into a resistance wall, and the meme coin hasn't been able to break through. Recent chart data shows SHIB trading around $0.0000079, confirming it's still trapped below that key level.
⬤ The price tried to build some upward momentum after an earlier drop, but sellers stepped in hard when it approached the resistance zone. The chart shows clear horizontal zones where SHIB keeps bouncing off the same levels repeatedly. Each time it tries to climb higher, it gets pushed back down, creating a pattern of lower highs that signals weakening buyer strength.
⬤ What we're seeing is range-bound movement with intersecting trendlines, showing the market can't decide which direction to go—but the pressure is still tilted downward. Every recovery attempt loses steam faster than the last one, and SHIB can't seem to hold any gains above the former support level.
⬤ This matters beyond just SHIB because meme coins like this tend to reflect overall sentiment in the high-risk crypto space. When a major player like Shiba Inu keeps getting rejected at key levels, it usually dampens confidence across similar tokens. Until SHIB can actually reclaim that $0.00000815 zone, the price is likely to keep reacting nervously around nearby support areas.
Peter Smith
