Saad Ullah
Shiba Inu (SHIB) crashed from $0.000015 back to $0.0000135, erasing weeks of gains in just a few days after a failed breakout.
Ouch. If you're holding SHIB right now, you're probably not having a great time. Shiba Inu just threw away pretty much all of its July gains in what can only be described as a spectacular face-plant. After briefly getting everyone excited by breaking above $0.000015, it's now back down to around $0.0000135. Talk about a buzzkill.
This is what traders call a "failed breakout" – basically when a coin tricks you into thinking it's going to moon, then does the exact opposite. SHIB looked solid in mid-July, climbing with decent volume and even getting back above the 200 EMA for the first time in months. But as soon as it hit that $0.0000155 resistance zone, sellers showed up and ruined the party.
The sell-off was brutal. It sliced right through the 200 and 50 EMAs like they weren't even there. These were supposed to be support levels that would hold, but they got steamrolled in a matter of days.
SHIB (SHIB) Charts Look Pretty Rough
Right now, SHIB is barely hanging onto the 100 EMA, and honestly, it doesn't look like it's going to hold much longer. The RSI dropped from overbought all the way down to neutral territory, which tells you the bulls have basically given up.
What's really concerning is the volume spike on red candles – that usually means panic selling or big holders dumping their bags. Not exactly what you want to see if you're hoping for a quick bounce back.
If SHIB loses the $0.000013 support level, things could get ugly fast. The next stops are $0.0000125 and potentially $0.0000113, which used to be decent support zones but now look more like speed bumps.
Why SHIB (SHIB) July Rally Was Built on Shaky Ground
So what caused that July pump anyway? It was mostly whale activity, some on-chain accumulation, and good old-fashioned speculation. But here's the problem – there wasn't much real substance behind it. No consistent volume, no broader market support, just hype and FOMO.
This whole mess shows you how quickly sentiment can flip with meme coins like SHIB. Unlike bigger cryptos that have more institutional backing, Shiba Inu moves fast based on pure emotion. One day everyone's bullish, the next day they're heading for the exits.
The pattern is pretty typical for smaller altcoins: quick pump gets people excited, FOMO kicks in, then reality hits when there's not enough real demand. The whales take profits, retail gets stuck holding bags, and all those gains disappear faster than they came.
For SHIB to recover from here, it's going to need more than just speculation and whale games. It needs real buying volume and sustained interest, not just another round of meme coin madness.
Saad Ullah
