Shiba Inu is currently hovering around the 100-day exponential moving average (EMA), a critical level where the coin will face significant selling pressure in the event of a decline. SHIB has been consolidating around this key point in recent days and even weeks. What investors do now is crucial. The 100 EMA has recently become a kind of base for SHIB. A decline from here and a break below this level could result in massive losses.
Judging from the chart, SHIB is in danger. If the coin falls below the 100 EMA, the next obvious support line is the 200 EMA, and this level is even lower, suggesting that a price free fall may occur. Fortunately, a rebound from the 100 EMA will put Shiba Inu back in the uptrend. To achieve growth, SHIB needs to break through a bunch of resistance above and target the price level around $0.000022, which could be the first checkpoint for a possible upward journey. However, the situation remains tricky and the risk appetite of SHIB holders may be tested in the coming days.