#Shiba Inu (SHIB) Brutally Denied $0.00003: What's Next?

The Shiba Inu was denied entry into the $0.00003 area and the meme quickly reversed and lost around 10% of its value. The reversal is not critical at all and SHIB can continue its journey upwards. But a failed breakout could be an important signal for future traders.

The Shiba Inu was rejected again at the entrance of the $0.00003 area as the meme coin quickly recovered and lost around 10%. This reversal here does not represent anything significant, and SHIB can still make its way to the upside, although a breakout could be a crucial signal for next steps.

The Shiba Inu has seen significant price movements in recent hours, underscoring the volatility and uncertainty in this cryptocurrency market, especially in tokens. After a strong rally that finally put SHIB price close to an important resistance level of $0.00003, the price did not develop well to organize a consistently fast downtrend. This led SHIB to retreat to around $0.000026, recording losses of approximately 10% from the peak.

Aside from this decline, most things seem cautious and optimistic for the Shiba Inu. The token continues to trade above the 50-day moving average and above the support level for the past two weeks consistently.

The RSI is around 57,

The support level is around $0.000022