Shiba Inu Crushed by Resistance Rejection

Shiba Inu's recent attempt at recovery has lost steam after failing to break through the significant resistance near $0.00000500.

The token immediately reversed direction after briefly testing that level, with sellers swiftly regaining control and forcing SHIB back into a short-term bearish structure.

From a technical perspective, the short-term trend has entered correction mode, with the price falling below the 20-day moving average while the 50-day average remains as resistance above.

The cooling mood is also reflected in momentum indicators, with the RSI moving back from overbought territory to about 53, indicating a significant weakening of buying pressure without yet reaching oversold levels.