Shiba Inu (SHIB) Loses Half of Its Gains: What Just Happened?!

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Alright, You hit the curb. 🛑

Let’s break it down, shall we? The price action is showing all the classic signs of rejection. SHIB made a nice spike above its 200 EMA, a sign that maybe—just maybe—this could be the start of a trend reversal. But, plot twist! It couldn’t hold above $0.000017-$0.000018, where 476 trillion SHIB are sitting there like a bunch of people waiting for a discount at Black Friday sales. So, what happens? They start dumping their tokens, and boom—here we are, back at $0.0000153. Classic. 🏃‍♂️💨

And, oh, it gets better. The rally gets squashed faster than you can say “market correction.” What’s even more impressive? The trading volume shot up like crazy during this rally and subsequent rejection. It’s like when you see a lot of people piling into a room, and then suddenly—poof—they’re gone. Volume spike, people bailing, and high market participation. This is what we call a “buyer’s exhaustion” situation. Talk about dramatic timing. 🔄

Let’s talk candles—because, of course, we’re doing that now. On May 12, the candle had this long upper wick, which is code for “Uh-oh, something’s off.” So now, $0.0000144 is the key support level, and if that doesn’t hold, SHIB might just slide down to $0.0000135, like that one guy at the party who doesn’t know when to leave. 🕺

So, is something happening? Well, yeah, obviously. SHIB hit a resistance zone that was basically a dead end, and the market didn’t have the support to push it forward. Without a fresh catalyst or buying pressure, it’s looking like SHIB might continue to do the thing it does best—falling back into correction mode. Watch $0.0000144 closely; it’s the line in the sand. Or the line in the… well, you get it. 🧐

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2025-05-13 11:43