Shiba Inu (SHIB) Bleeds Out: 11% Crash Is In as Liquidations Skyrocket
Main Idea
Shiba Inu (SHIB) experiences an 11% price crash amid rising liquidations, showing weakness and failed breakout attempts, with key support levels at risk.
Key Points
1. Shiba Inu's price is trading below both the 200-day and 50-day EMAs, indicating weakness and a failed breakout attempt.
2. Immediate support levels are at $0.00001300 and $0.00001250, with a potential further drop to $0.00001150 if these fail.
3. Recovery attempts face obstacles due to the 200 EMA's position, and bulls show no readiness to launch a significant rebound.
4. Selling pressure is increasing alongside rising volume, exacerbating the price decline.
5. The article highlights broader market context, including mentions of altcoin season, Ethereum, Solana, and other crypto-related news.
Description
Shiba Inu folds under very little pressure, suggesting lack of conviction among bulls
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