SHIB drifts sideways; risk of drop toward $0.000006 amid weak volume
SHIB (Shiba Inu) price posted a modest 0.65% 24‑hour gain but shows limited directional strength. On the hourly chart SHIB produced a false breakout below local support at $0.00000789; failure to recover could push the token down into a $0.00000770–$0.00000780 zone. On higher timeframes the price remains within the prior day’s bar and trading volume is falling, signaling indecision. The report highlights midterm seller dominance: a sustained decline breaking $0.00000678 could free enough momentum for a move toward ~$0.00000600. Current price at publication: $0.00000794. Key trading considerations: tight range between $0.00000770–$0.00000820, low volume, possible continuation lower if support breaks.
Bearish
The analysis points to weak price action and declining volume, classic signs of indecision with downside bias. A false breakout below $0.00000789 and proximity to support make a continuation lower the higher-probability path. If $0.00000678 fails, historical price mechanics and the article’s note on “accumulated energy” support a move toward ~$0.00000600, which would be a significant downside. Short-term impact: increased volatility and potential shorting opportunities if support is broken; traders should watch entries near $0.00000770–$0.00000780 and set tight stops. Long-term impact: unless volume picks up and price reclaims the $0.0000080 area, sentiment may remain negative and reduce upside potential. Comparable past episodes in low-liquidity meme coins show that volume-led breakdowns often accelerate moves lower, while breakouts without volume tend to fail, reinforcing the cautious/bearish outlook.