Usman Salis
Shiba Inu (SHIB) just took a nasty hit, dropping over 5% after failing to hold that crucial $0.000015 level. Now it's dancing dangerously close to its 200-day moving average – and if that breaks, things could get ugly fast.
Shiba Inu (SHIB) Price Shows Cracks After Brief Rally
So here's what's happening with Shiba Inu right now – it's not looking great. After that quick pop above $0.000015, SHIB has completely reversed course and is now bleeding out. We're talking about a solid 5% drop on the daily chart, and honestly, the selling pressure is starting to build up.
The big worry? SHIB is sitting right on top of its 200-day EMA, and that's basically the line in the sand between bulls and bears. If it breaks below this level, we could see some serious panic selling kick in. This isn't just any random support line – it's the kind of level that makes or breaks rallies.
Shiba Inu (SHIB) Volume Tells a Worrying Story
Here's where things get interesting (and not in a good way). The volume that pushed SHIB higher earlier? It's basically disappeared. When you see buying volume dry up like this, it usually means people aren't really convinced about higher prices. Sellers are slowly taking control, and without fresh buyers stepping in, that's a recipe for more downside.
The RSI is also flashing warning signs. It's rolling over from those overbought levels, which basically screams that this rally was getting a bit too stretched. When momentum indicators start turning south like this, it's often a heads-up that more pain is coming.
What's Next for SHIB Price?
If SHIB does break below that 200-day moving average, the next stop is probably around $0.000014. But the real test comes at $0.0000135 – that's where we might see some actual buying interest kick back in.
The scary part? If those levels don't hold, we could see a bunch of stop-losses get triggered, and that would send SHIB tumbling even faster. It's like dominoes falling – once it starts, it's hard to stop.
Bottom line: SHIB bulls don't have much time left to save this rally. If they can't defend this 200-day level in the next day or so, all those recent gains could vanish pretty quickly. The clock's ticking, and right now, it's not looking too promising for the meme coin faithful.
Usman Salis
