Shiba

Ethereum

Shiba Inu

<p><a href="https://en.coin-turk.com/shiba-inu-community-burns-nearly-20-billion-shib-tokens/" rel="noopener noreferrer nofollow">Shiba</a> Inu was unable to sustain a decisive break above the closely watched $0.000005 level, disappointing investors hoping for a lasting recovery. After signs of stabilization at the end of June, SHIB made a modest attempt to rebound, but each approach toward this threshold was quickly met with intensified selling pressure. As a result, the persistent weakness that has characterized the token in recent months again came to the forefront.</p>
<h2 id="the-technical-outlook-remains-subdued">The technical outlook remains subdued</h2>
<p>On the daily chart, SHIB continues to trade below all major moving averages. Both the 100-day and 200-day averages remain well above the current price, indicating the long-term trend has yet to turn bullish. Meanwhile, the 50-day exponential moving average continues to serve as a significant resistance area in the short term.</p>
<p>Shiba Inu, a meme coin based on the <a href="https://en.coin-turk.com/crypto-market-dips-as-bitcoin-retreats-to-30k-ethereum-supply-decreases-on-exchanges/" rel="noopener noreferrer nofollow">Ethereum</a> network and supported by a large community, demonstrates that community enthusiasm alone is not sufficient to support its price. Technical levels and broader market risk appetite have proven more decisive in recent trends.</p>
<blockquote>
 <p>While reclaiming the $0.000005 level could have sparked another move toward the 50-day exponential moving average, sellers stepped in immediately at this zone, pushing the price back down.</p>
</blockquote>
<h2 id="no-change-in-the-yearly-trend">No change in the yearly trend</h2>
<p>Most attempts at a recovery over the course of the year have ended with renewed selling. The most recent rejection is widely seen as a continuation of this pattern. On the technical side, the breakdown of the ascending wedge formation from March to May remains a key development reinforcing the bearish outlook.</p>
<p>Following this breakdown, SHIB has struggled to generate meaningful buying momentum. The latest upward move began only after prices approached local lows around $0.0000040. While buyers briefly managed a reaction from these levels, momentum faded quickly as SHIB neared the critical $0.000005 mark.</p>
<h2 id="trading-volume-fails-to-provide-support">Trading volume fails to provide support</h2>
<p>Trading volumes have also offered little support for a reversal. Compared to previous periods of sharp gains or declines that saw pronounced spikes in volume, recent activity has been relatively muted. This suggests the market remains cautious toward higher-risk assets.</p>
<p>For buyers, the primary short-term goal now is for SHIB to move above $0.000005 and sustain this level as support. Unless this occurs, brief rallies may simply establish a new lower high within the broader downtrend.</p>
<p>If selling pressure persists, SHIB is likely to test its recent lows again. Conversely, decisively overcoming local resistance is seen as necessary for buyers to regain at least short-term momentum.</p>
<p>The post <a href="https://en.coin-turk.com/shiba-inu-failed-to-hold-above-0-000005-as-selling-pressure-increased-near-key-resistance/" rel="noopener noreferrer nofollow">Shiba Inu failed to hold above $0.000005 as selling pressure increased near key resistance</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Shiba Inu failed to hold above $0.000005 as selling pressure increased near key resistance

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