Shiba Inu Price Surge Loses Steam as Sellers Regain Control

Shiba Inu's recent price surge has lost momentum after failing to break above the $0.00000503 level, which is also its 100-day exponential moving average. The token had seen a significant increase in trading volume, with daily volume reaching one of its strongest levels this year, but sellers stepped in and pushed the price back down.

The rally was short-lived as buyers couldn't maintain control once SHIB approached the 100-day EMA. The 20-day and 50-day EMAs had moved close to a bullish crossover before the reversal, but the price decline widened the gap between both averages, postponing technical confirmation of a lasting trend reversal.

The relative strength index also retreated from overbought territory toward neutral levels, matching the rapid decline in buying pressure after the brief surge. Bulls still need to reclaim $0.00000503 before challenging the 200-day EMA near $0.00000602.