The recent rally of Shiba Inu (SHIB ($0.00)) has stalled, leaving the token struggling to hold its ground. After failing to break through the critical $0.000015 resistance level, SHIB is now trading around $0.0000135. Increased selling pressure and a lack of bullish momentum have shifted sentiment, raising concerns that the meme coin could add another zero to its price.
Strong Resistance Rejects SHIB’s Rally
SHIB faced a decisive rejection at both the long-term 200-day moving average and the $0.000015 resistance zone. The price briefly broke above major moving averages but quickly lost steam, resulting in what appears to be a failed breakout. Despite several attempts, SHIB has not managed to sustain trading above the $0.00001449 resistance for more than a few sessions.
SHIB/USD price chart
Technical indicators signal further downside pressure. The Relative Strength Index (RSI) and current volume profile suggest that SHIB is more likely to experience a correction or extended sideways action before attempting another breakout. The inability to stay above the 50 and 100-day moving averages further supports the bearish outlook.
Weak Volume Signals Lack of Conviction
Additionally, there has been no new volume surge to support upward momentum. The brief rally from below $0.000012 levels quickly faded, with no sustained demand from buyers. Without stabilization above the short-term support at $0.0000131, SHIB could slide to $0.00001267 or even $0.0000120.
The decline highlights the weak fundamental conviction among SHIB holders and meme coin investors in general. Many recent purchases appear to have been driven by short-term speculation rather than long-term belief in the token’s utility. As a result, SHIB’s price structure continues to weaken.
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With technical signals pointing to sustained downside pressure, SHIB’s failure to reclaim $0.000015 makes the possibility of adding another zero to its price increasingly realistic. Unless bulls regain control soon, this could be the token’s next move.
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