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Following
SHIB SHIB encountered obstacles after a 40% rise, and bulls held on to key support.
After a 40% rise, SHIB encountered a large sell-off around US$0.000058, and its momentum weakened. Bulls are defending key support levels, while the moving average maintains a short-term recovery. If it falls below US$0.000046, it may trigger a liquidation near US$0.000045.
Shiba Inu had previously achieved an impressive breakthrough before encountering strong selling resistance. This rally has brought new optimism to the entire memin market. However, profit-taking erased some of the gains and enthusiasm cooled. Even so, SHIB still traded above key breakthrough areas. Buyers now face an important challenge: holding on to current support is expected to restore confidence and create opportunities for prices to rise again in the coming trading session.
SHIB correction tests upward momentum
SHIB rose nearly 40% after breaking out of the long-term consolidation range, with prices climbing from approximately US$0.000041 to nearly US$0.000058. Strong buying drove the breakthrough, and sellers then regained control. There was a large sell-off quickly near the peak of the rally. A long upper shadow line is formed on the four-hour chart, indicating that prices are strongly rejected at high levels. As traders lock in profits, profit-taking increases accordingly. The price has since fallen back to between US$0.0000046 and US$0.000048. Despite the correction, the SHIB remained above the pre-July trading range, a trend that kept the overall recovery intact for the time being.
The previous rise was supported by multiple factors: South Korean retail demand increased during the rise, token destruction accelerated, and whale activity resumed. These developments boosted market sentiment before the market reversed. The recent decline suggests that many short-term traders have cashed in profits and that new buyers have not yet accumulated enough momentum to push for the next breakthrough. Bulls must now defend their newly established support levels.
Technical indicators show the market is looking for direction. SHIB is currently trading close to the 20-cycle and 50-cycle simple moving averages, which are located near current market prices. Holding above these two moving averages will strengthen the bullish outlook. The 100-cycle and 200-cycle moving averages provide stronger support, both of which continue to rise below current prices. As long as prices remain above these moving averages, they are structurally beneficial to buyers. The MACD indicator shows a slowdown in momentum, and the two indicator lines are close to the zero axis. Selling pressure has eased, but bullish power remains limited.
Support around US$0.000045 may determine the next move
Bulls now need four hours to close above $0.000048, a trend that would signal a renewed interest in buying. Resistance will then appear around $0.000050, followed by a larger supply area between $0.000052 and $0.0000054. The liquidation heat map highlights another important area: a large liquidity cluster between $0.0000450 and $0.0000452. Markets tend to move towards such areas before moving in the opposite direction. Failure to hold above US$0.000046 may trigger further declines. Once prices hit this liquidity gathering area, long liquidations may increase, putting more pressure on bullish traders.
Current price movements are balanced between support and resistance, and buyers still control the broader recovery structure. However, before the next round of sustained gains can begin, stronger demand must emerge. The next few trading sessions will determine whether SHIB resumes its upward trend or continues the current consolidation pattern.
