Shiba Inu breaks key support, dropping 10% amid rising selling pressure.
Bearish indicators suggest further downside unless buyers regain control quickly.
Resistance between $0.000012–$0.000014 could block any short-term SHIB rebound.
Shiba Inu — SHIB, has slipped off a cliff—and traders are scrambling for answers. A sharp 10% plunge in 24 hours rattled SHIB holders, driven by a wave of panic-selling and rising geopolitical tension. The drop didn’t just hurt sentiment—it also shattered a critical support zone. As bearish pressure grows heavier, the big question is simple: will SHIB sink deeper or bounce back stronger?
https://twitter.com/Utoday_en/status/1931006622161134058 Breakdown Paints a Bleak Short-Term Picture
Since May 10, SHIB has traded inside a descending triangle. The setup featured falling highs and horizontal support at $0.000012. This kind of pattern usually signals weakness—and now, that support just crumbled. The breakdown sparked fresh fears of an extended slump. With the current price action, SHIB risks falling below $0.000010. That would mark a deeper correction and further shake confidence.
Momentum indicators aren’t offering much relief. The Awesome Oscillator, which measures trend strength, now sits in negative territory. That means bearish momentum currently controls the chart. If this trend continues, bulls could struggle to regain control.Adding more weight to the bearish side, the Supertrend indicator flipped red. The red line now floats above the price, creating strong resistance. Every upward push might hit a wall, limiting short-term recovery potential.
Head-and-Shoulders Formation Hints at More Pain
On-chain metrics offer little comfort. The In/Out of the Money Around Price (IOMAP) data shows most SHIB holders are underwater. Resistance between $0.000012 and $0.000014 remains thick. If prices return to that zone, many might sell just to break even. This creates a possible wall—a heavy ceiling that could stop rallies dead in their tracks. If panic spreads again, SHIB could revisit $0.000010 or even dig lower. The daily chart adds another layer of concern.
A textbook head-and-shoulders pattern has taken shape. This setup often marks the end of an uptrend and the beginning of a new slump. At the same time, the Chaikin Money Flow (CMF) dipped below zero. That shift signals rising selling pressure and fading demand. Without stronger buying volume, price could slide further toward the danger zone. However, all isn’t lost—yet. If buyers regain confidence, SHIB could mount a comeback.
A recovery toward $0.000016 remains on the table. But bulls must act fast. They need to reclaim broken levels and build fresh momentum. For now, the path forward looks shaky. With momentum fading, resistance rising, and sentiment turning cautious, SHIB stands at a crossroads. The coming days may decide whether this meme coin rebounds—or bleeds lower. Either way, SHIB watchers should buckle up. The ride isn’t over.
