Shiba Inu (SHIB) has once again faced intense selling pressure, struggling to maintain stability in a bearish-dominated market. A failed recovery attempt at a critical resistance level has left the meme coin vulnerable to further downside, raising concerns among investors.
SHIB Rejected at $0.000013: More Pain Ahead?
Despite brief efforts to regain lost ground, SHIB faced a significant rejection at the $0.000013 level, reinforcing bearish control. The inability to break past this resistance suggests that selling pressure remains strong, increasing the likelihood of a retreat toward the crucial $0.00001 support zone.
A break below this psychological level could intensify the decline, potentially pushing SHIB into deeper bearish territory. If the price remains under resistance, traders may see further losses unfold in the coming days.
Moving Averages Pose a Major Obstacle
A key factor behind SHIB’s ongoing weakness is the resistance from short-term moving averages. The 50-day and 100-day moving averages have acted as strong barriers, preventing any meaningful upside movement. Until SHIB manages to reclaim these levels, bullish momentum will likely remain suppressed, leaving the asset at risk of accelerated selling.
Declining Market Demand Adds to SHIB’s Struggles
Beyond technical hurdles, Shiba Inu is also suffering from reduced market demand. The overall slowdown in the meme coin sector has made it harder for SHIB to attract consistent buying interest. If investor sentiment does not improve, the asset may face prolonged bearish pressure, leading to further declines.
Will SHIB Hold the $0.00001 Support?
All eyes are now on the critical $0.00001 support level. If SHIB manages to hold this zone, it could provide a temporary floor for the price, allowing for potential consolidation before a recovery attempt. However, a breakdown below this level could open the doors to deeper losses, putting SHIB in a challenging position for the foreseeable future.
With mounting resistance, fading demand, and growing bearish sentiment, SHIB’s short-term outlook remains uncertain. Investors should closely watch price movements around key support levels, as any further weakness could trigger a new wave of selling pressure.
