Shiba Inu Coin is on the brink of death: the 13 trillion support level is in danger! Can bulls still hold on to the last straw?
For Shiba Inu, the support level of 13 trillion SHIB is about to be touched, which may determine its trend for the next period of time. This position is a big hurdle for sellers, and it may be the last straw for bulls who want to push up prices.
However, judging from market indicators, the overall trend of SHIB is still cautious. Judging from the candlestick chart, Shiba Inu failed to stabilize the price above $0.00002800, which also shows that its upward momentum is weakening.
Previously, SHIB relied on the 26-day moving average as support when it rose, but this pullback put it at risk of breaking through. If the closing price falls significantly below the current support level next, the price may continue to fall, and the target may point to the two key points of $0.00002249 and $0.00002031. Bulls need to protect these support levels, otherwise they may usher in a deeper adjustment.
In addition, the volume has dropped significantly, indicating that both buyers and sellers are showing less interest. Although SHIB is trying to stabilize the price, the decline in participation makes its situation more difficult.
Without a significant rebound in buying volume, the chances of recovery in the short term are slim, which also makes SHIB more vulnerable to downward pressure. If buyers become active again and SHIB can hold the support of 13 trillion SHIB, we may see a small rebound, with the target possibly being $0.00003000, where resistance may also be encountered.
If this level is broken, it may mean new upward momentum and investor sentiment may improve. But at present, SHIB's price trend is still not very stable, so it is recommended to remain cautious.
