Shiba Inu's Rally Fades as Buyers Lose Momentum

Shiba Inu's (SHIB) recent rally saw its trading volume surge by nearly 12 times, making it one of the strongest single-day movements in months.

The coin broke out of its extended consolidation range, but now shows signs of fatigue as buyers appear to be losing momentum.

The chart indicates that overbought conditions are present, which often accompany cooling periods following explosive advances.

Technical analysts are keeping a close eye on whether buyers can hold onto recently recovered support levels around $0.00000500, the 100-day exponential moving average.