Shiba Inu Hits a Wall: Bull Run Stalls Despite Buyer Support

Shiba Inu’s rally slams into resistance—turns out meme coins have limits, even with ’diamond hands’ propping them up. Who knew?

Buyers stepped in to defend SHIB’s floor, but the momentum’s fizzling faster than a degens’ attention span. Classic crypto: all hype, no horsepower.

Next stop? Either a breakout or another ’learning opportunity’ for bag holders. Place your bets—Wall Street’s watching with popcorn.

Further, the price chart shows the downtrend from the May 12 highs is still intact.

Key technical insights

• Notable support has been established at $0.00001267, where buyers consistently stepped in during early hours.
• Price action formed a clear uptrend with higher lows and higher highs, breaking through key resistance levels at $0.00001294 and $0.00001313.
• Initial consolidation period (01:07-01:34) established support at $0.00001330, followed by an explosive breakout at 01:35 with the highest volume spike (14.6B).
• Price action formed a clear ascending channel with higher lows, culminating in a new local high at $0.00001345.
• Slight profit-taking emerged in the final minutes as volume tapered off, suggesting potential short-term resistance but maintaining overall bullish structure.