- No fuel for Shiba Inu
- No catalyst, no growth
The price rally for Shiba Inu has reached a dead end, and the short-term outlook is not good. The long-term 200-day moving average and the $0.000015 resistance zone are the points at which the meme coin was decisively rejected. Selling pressure has increased as a result of the rejection, and SHIB is currently trading in the $0.0000135 range, hovering just above a significant local support.
No fuel for Shiba Inu
Technically the recent price movement of SHIB is similar to a failed breakout. The asset lost momentum and fell back below the major moving averages after momentarily breaking above them. It is still difficult to break through the $0.00001449 resistance as the price cannot hold above it for more than a few sessions.
According to the current RSI and volume profile, the likelihood of either a significant correction or extended sideways action coming first is higher for this kind of price behavior. After a comparatively weak bounce, SHIB’s inability to maintain above the 50 and 100-day moving averages supports the bearish thesis.
There was no new volume surge to support further upside, and the momentum that had propelled it from below-$0.000012 levels swiftly vanished. It appears more likely that the token will return to the $0.00001267 level, or worse, $0.0000120, if it is unable to stabilize above the current short-term support at $0.0000131.
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No catalyst, no growth
This retreat mostly shows the lack of fundamental conviction among SHIB holders and meme coins in general: these assets frequently quickly retrace following speculative pumps in the absence of fresh catalysts. Most recent purchases were probably motivated more by short-term sentiment than by conviction or utility, as evidenced by the lack of sustained demand at higher levels.
SHIB’s pricing structure is deteriorating. Technical signals indicate that the downside pressure exists, as it was unable to maintain its position above the psychologically significant $0.000015 level. Adding another zero to SHIB’s price could become more than just a meme; it could be the next logical step, unless bulls intervene quickly.
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