Shiba Inu (SHIB) struggles to maintain market stability as selling pressure intensifies. The recent price action indicates a significant rejection at a key resistance level, reinforcing the dominance of bearish sentiment. Despite short-lived recovery attempts, SHIB continues to fail at overcoming crucial resistance points, increasing the risk of further declines.
Moving Averages Prevent SHIB’s Recovery
Short-term moving averages, particularly the 50-day and 100-day, continue to block any meaningful upward momentum. Every attempt to rally faces immediate rejection of these technical barriers. The longer SHIB remains below these resistance levels, the higher the chances of an accelerated decline toward lower support zones.
24-hour price chart. Source: CoinMarketCap
SHIB’s inability to hold above $0.000013 suggests that its recovery efforts remain fragile. With the price moving lower, the likelihood of revisiting the $0.00001 range increases.
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If SHIB tests this psychological level and fails to hold, market sentiment could deteriorate quickly, triggering a steeper downtrend. A drop below this level would significantly weaken SHIB’s position, making any recovery attempts more difficult.
Declining Market Demand Worsens SHIB’s Situation
Beyond technical barriers, SHIB also faces challenges from dwindling market demand. The broader meme coin market has lost momentum, making it harder for speculative assets like SHIB to attract consistent buying pressure.
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Without renewed investor interest, SHIB may continue its downward trend for an extended period. All eyes are now on the $0.00001 support level, which could act as a temporary floor for SHIB.
However, if selling pressure intensifies and SHIB breaks below this level, additional losses could follow. A deeper decline may push SHIB into unfamiliar bearish territory, creating even more uncertainty for investors.
