Shiba Inu (SHIB) Performs Biggest Fakeout of This Summer

Key Points

1. SHIB initially showed signs of a breakout with rising volume and a bounce off the 50 EMA, but it sharply reversed, falling below the $0.000012 support zone.

2. The reversal likely triggered a major shakeout event, forcing leveraged positions to unwind and causing psychological distress for bulls.

3. After a brief intraday rebound, SHIB is consolidating above $0.000013, with potential for further movement toward $0.0000145 if it maintains support and increases volume.

4. Volatility remains high, and another fakeout is possible, leaving SHIB in a risky middle ground between key price levels.

5. The article mentions unrelated crypto news (e.g., Stellar's Visa support, Ripple's hiring, XRP's absence in a White House report) but focuses primarily on SHIB's price action.