Shiba Inu price today is trading near $0.00001397, extending its recent downside streak after failing to hold above the $0.00001500 resistance zone. The asset is down nearly 7% over the past 24 hours, marking its second consecutive red candle on the daily chart. This correction comes after Shiba Inu price spikes earlier this month pushed it toward $0.00001760, only to meet significant supply pressure around the 0.236 Fib level of $0.00001590.
The Shiba Inu price action currently reflects a clear rejection from the upper Bollinger Band and a break below the 50-day and 100-day EMAs, signaling rising Shiba Inu price volatility as the asset approaches a key support zone near $0.00001380.
Shiba Inu Price: Descending Triangle Breakdown Triggers Renewed Selling
On the 4-hour chart, SHIB broke below a crucial ascending trendline support near $0.00001430, confirming a descending triangle breakdown. This technical breach coincides with a rejection at the $0.00001510 zone, now acting as a firm resistance barrier.
The bearish pattern unfolded alongside a declining volume pro…
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