Shiba Inu has dipped under $0.0000060, a price area that kept catching the recent pullbacks. That cushion is gone for now. The SHIB price is trading at $0.00000592, sitting just below a level that had been doing most of the heavy lifting on the chart.
That changes the short-term picture and puts pressure back on buyers. This drop didn’t come out of nowhere. The chart has been weakening for a while.
However, if you look closely, the SHIB price has been printing lower highs since its last bounce. Every push upward faded quicker than the one before. Momentum has been drying up step by step.
On February 23, the 200-day moving average crossed above the 50-day moving average. That crossover confirmed what price action had already been showing, strength was fading and sellers were gaining control.
After that move, the SHIB price dropped directly to the $0.0000060 region. It rebounded, but the momentum was weak. Price never managed to break back above the 50-day average with authority. Instead, that line now sits overhead as resistance.
Source: X/TheCryptoBasic
- $0.0000060 Was Holding the Floor For Shiba Inu
- What Would Improve the SHIB Setup
- Decision Time for SHIB
$0.0000060 Was Holding the Floor For Shiba Inu
That level wasn’t random. It had been tested multiple times and buyers defended it each time. When a level like that gives way, it usually changes the tone of the chart.
Right now, SHIB is trading slightly below it. If this level flips into resistance, downside targets come into focus quickly.
The next support areas sit around $0.0000057 and then $0.0000050. Both zones align with previous reaction points. If sellers press the move, those levels could be tested sooner than expected.
Volume also tells a simple story: drops have been stronger than rebounds. Buyers have not stepped in aggressively.
_****The Next Few Days Will Decide Whether XRP Price Breaks $2 or Falls Back to $1**
What Would Improve the SHIB Setup
For the current state to normalize, the price of Shiba Inu must move above $0.0000060 and support it. A quick reclaim followed by consolidation would reduce immediate downside pressure.
In this case, the resistance levels to watch are $0.0000066, $0.0000072, and $0.0000078. Those are the areas where price previously rolled over.
The 50-day moving average also needs to be reclaimed. Until that happens, rallies may continue to stall.
Decision Time for SHIB
At this stage, the price is bearish. The price has been trending down, the supporting level has been broken, and the moving averages are no longer supporting the price.
However, this does not mean that the price will now crash. Crypto markets can snap back fast, especially if a level is reclaimed quickly.
But if the level of $0.0000060 continues to be the level of resistance for the Shiba Inu price, then there are more chances of the price crashing.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Shiba Inu (SHIB) Shows Warning Signs as Price Hints at Another Dip
Shiba Inu price has returned to a delicate zone after several failed attempts to push higher. Recent price action shows SHIB struggling to break above a descending resistance line. That pattern has started raising concerns about another short-term decline.
Market observers began paying
CaptainAltcoin22m ago
-24 Billion Shiba Inu (SHIB) in 24 Hours: Are Bears Stepping Back? - U.Today
Shiba Inu's potential selling activity
Recovery possible
After months of continuous selling pressure, Shiba Inu is stabilizing, and recent on-chain activity indicates that the market’s aggressive bearish momentum may be beginning to wane.
Exchange flow data shows that about 24 billion SHIB
UToday1h ago
Shibarium Indexing Hits 45% as Shiba Inu Eyes ETF Inclusion
Shibarium’s recovery process shows steady progress as indexing levels improve and system stability returns. Network data accuracy remains limited, yet activity continues to build across the ecosystem. Meanwhile, broader developments around Shiba Inu add new context to the current market
CryptoBreaking5h ago
Crypto Market Review: Is Bitcoin Ready for $100,000? Shiba Inu (SHIB) Bull Market Denied Abruptly, Ethereum's (ETH) Next Key Resistances Are Clear Now - U.Today
Bitcoin's key breakout zone passed
Shiba Inu's attempt was unsuccessful
What else is needed for SHIB?
Ethereum is moving back
Ethereum has to break through
Following weeks of corrections, Bitcoin has once again tried to perform a bullish breakout after regaining the $75,000 level, indicating a
UToday14h ago
Here’s How Shiba Inu (SHIB) Price Could Explode 50%
Shiba Inu (SHIB) shows signs of potential recovery, pushing against a downward trendline. If it breaks through the $0.0000070 resistance, a 50% rally to $0.000010 is possible, indicating bullish momentum.
CaptainAltcoin16h ago
Is Shiba Inu (SHIB) Entering 'Healthy Correction' With 43% Upside Still on the Menu? - U.Today
Cryptocurrency Shiba Inu (SHIB), which had been demonstrating confident growth in recent days, gaining as much as 22% in price since March 9 at the peak, has over the past 24 hours shown a decline that already amounts to 6% from the local high reached yesterday at the $0.00000644 mark, as per
UToday22h ago
