Shiba Inu's Price Continues to Face Resistance at 100-Day Moving Average

Shiba Inu's price continues to face resistance at its 100-day moving average, failing to close above it for the second time. The token traded near $0.00000496 on August 2 after a brief move above the average on August 1.

The 100-day SMA is currently around $0.00000509, while the 50-day SMA sits at approximately $0.00000447. Shiba Inu has been trading between these two moving averages since July 27, with buyers unable to secure a close above the resistance overhead.

A daily close above $0.00000509 would be a stronger break than another brief move through the average, requiring price to remain above the level instead of returning immediately to the range.