Shiba Inu Plunges 10% After Briefly Topping $0.0000062

Shiba Inu (SHIB) suffered a sharp 10% drop after reaching $0.0000062, erasing most of its latest breakout gains. The token fell toward $0.0000056, with Sept. 23 data showing a low near $0.00000554 and a close around $0.00000564.

The reversal has put the 200-day moving average back in focus, which SHIB is now testing. The recent breakout initially looked significant because SHIB moved above the long-term moving average with stronger trading activity.

However, sellers appeared aggressively between $0.0000060 and $0.0000063. If buyers defend the area and push SHIB back above $0.0000058, the recent drop could become a retest rather than a failed breakout.