SHIB just bounced off the $0.00000500 level and couldn't stick the landing. The token tanked after running into the 100-day moving average, which sits right where sellers are now in control.
Last week's rally looked promising, but it ran out of gas fast. The move up to $0.00000500 faced immediate selling pressure, and the price has now slipped below the 20-day average. That's when short-term bulls usually start heading for the exits.
The pullback itself isn't surprising from a technical angle. Multiple moving averages stacked up at that level, and when SHIB hit it, the rejection was swift. Lower highs are forming on the daily chart, which tells you the bounce lost momentum instead of building on it.
Momentum is cooling too. The RSI has backed off from overbought readings down to 53, showing the buying energy that was there last week has faded. The 50-day moving average now sits above price as resistance, while the 20-day lies below as support that's already been broken.
The bigger picture hasn't flipped just yet. The 100-day and 200-day averages still sit much higher, so the overall trend structure hasn't completely unwound. But right now, SHIB is in correction mode, and bears have reclaimed the short-term narrative.
This analysis is informational only and should not be construed as financial advice. Always consult with a qualified financial professional before making trading decisions.
