Shiba Inu's 40% Surge Fades as Bulls Defend Support Zone

Shiba Inu's (SHIB) price surge of nearly 40% has stalled, and bulls are now defending a support zone around $0.0000045.

The price rallied to approximately $0.0000058 before sellers rejected the meme coin near that level, leaving buyers to establish a higher base after the breakout.

According to data from crypto.news, SHIB traded near $0.00000468 on July 31 after its vertical rally encountered heavy selling above $0.0000054.

The token briefly reached approximately $0.0000058 during the breakout, marking a gain of nearly 40% from its pre-rally base around $0.0000041.