Shiba Inu's Bull Run Hits Roadblock as Momentum Falters

Shiba Inu (SHIB) has been trying to sustain its recent recovery, but concerns are rising about whether it can create a long-term bullish trend. Despite regaining ground from its August lows, technical barriers still stand in its way.

Currently trading at $0.00000535, SHIB has breached the moving average cluster around $0.00000500-$0.00000507, which serves as its primary support zone. The rising trendline from the August bottom provides bulls with a clear level to defend.

However, momentum is lacking, and buyers have not gained sufficient traction to push SHIB above $0.00000540. The token briefly touched $0.00000620 during the August rally but was met with strong resistance.

Another significant hurdle lies ahead in the form of a major long-term moving average around $0.00000568, which is currently out of reach for SHIB. Moreover, spot flows have turned negative, indicating that tokens are leaving exchanges and reducing available supply.