Does the Shiba Inu (SHIB) rally end: Goodbye to $0.000015?

Given the rising warning signs and the flashing technical indicators, Shiba Inu may be nearing the end of its recent rally. With today's price action indicating a decline of nearly 3%, the meme asset is struggling to maintain momentum after a promising breakout above $0.000015.

The thick black line, which indicates rejection at the 200 EMA, has become a significant hurdle that SHIB has been unable to overcome successfully. Whether Shiba Inu can stabilize or continue to decline will depend on three crucial support levels at this moment. Currently floating just below the current price, the 200 EMA provides the most immediate support.

If this moving average cannot be maintained, the $0.0000136 region — which corresponds to the 26 EMA and the recent local consolidation zone — will be the next crucial area. This level is significant not only historically but also because it coincides with SHIB's short-term trend support. The last lifeline if selling pressure continues to rise is at $0.0000125.

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A complete reversal back to the pre-rally trading range may be avoided by SHIB at this level, which serves as a broader structural support. As a sign of diminished buying enthusiasm, volume has already begun to decrease. When combined with a high RSI level, close to 70, SHIB is approaching overbought territory that — if not supported by new volume flows — is often a sign of a further decline.

Enthusiasm around the SHIB rally is fading quickly, and if the bulls cannot effectively defend the 200 EMA, conditions may worsen rapidly. To avoid saying goodbye to $0.000015 for now and a return to more moderate price action, one must continue to pay attention to the support levels of $0.0000136 and $0.0000125.