Shiba Inu Pulls Back 6% After Leveraged Rally Cools

Shiba Inu's price took a hit after a highly leveraged rally pushed it into heavy resistance, causing a 6% pullback over the course of 25 hours.

The sharp cooldown was expected given the strong run-up driven by several bullish developments, including optimism around SHIB entering Japan's regulated market via Laser Digital.

A technical analysis showed that SHIB had erased an 11-month bear cycle and established a new market cap 'floor' around $3.22, $3.26 billion, closing above its 200-day moving average for the first time in 2026.

However, this move was met with heavy selling as buyers pushed price up aggressively but then met resistance at the 200-day moving average, resulting in a doji daily candle and a long upper wick.

The broader crypto market also cooled slightly during this period, with total crypto market cap down about 1.9% over the past 24 hours and total 24-hour crypto trading volume dropping by over 30%.