Shiba Inu Battles Key Support at $0.000012 as Bearish Pressure Builds

Shiba Inu (SHIB) is consolidating near a crucial support level at $0.000012, a zone that has historically sparked reversals. Currently trading at $0.00001245, SHIB faces a pivotal moment as bulls and bears grapple for control. This price point holds psychological significance, having been tested multiple times over the past year.

Despite attempts at upward movement, SHIB continues to form lower highs, indicating a bearish trend. A breakdown below the $0.000012 level could trigger a steep drop toward the $0.000010–$0.0000095 range. The price action remains constrained by overhead resistance from the 50-day, 100-day, and 200-day exponential moving averages (EMAs), capping recent bullish efforts.

Trading volume has shown moderate increases, suggesting that while individual investors are attempting small rallies, sellers maintain dominance. Red candlesticks dominate the chart, reinforcing bearish sentiment. The Relative Strength Index (RSI) hovers around 47, close to neutral but leaning bearish.

Over the last 24 hours, 2.38 trillion SHIB have been moved, yet the price remains in the red. If SHIB holds the $0.000012 support and rebounds, a short-term trend reversal may be possible. However, a firm break below this level could expose the asset to deeper losses.

To regain bullish momentum, SHIB must not only defend current support but also reclaim the $0.00001375 resistance level. Until then, caution dominates market sentiment, and traders are watching this zone closely for the next decisive move.