Shiba Inu Holds $0.0000075 Support as Selling Pressure Persists

⬤ Shiba Inu has been pulling back and is now consolidating around a critical support zone on the daily chart. Price action shows continued pressure from sellers, though momentum appears to be fading near the lower range boundary. The market is at a point where these support and resistance levels will likely determine what happens next.

⬤ SHIB is trading within a Fibonacci retracement structure, currently holding near the 0.618 to 0.786 zone around $0.0000075. This area has attracted buyers multiple times, helping slow the decline. But repeated failed attempts to push higher show that bulls aren’t strong enough yet. Key resistance sits above at $0.0000085 and $0.0000090, where sellers have stepped in before.

⬤ The Chande Momentum Oscillator is still in negative territory, confirming bears still have the upper hand. Small bounces have appeared, but they’ve lacked follow-through, keeping SHIB capped below mid-range resistance. The setup looks more like consolidation than a clear directional move as traders reassess after the recent drop.

⬤ This phase matters for the broader meme-coin space since Shiba Inu often reflects overall sentiment. If current support holds, it could stabilize price and calm volatility short-term. A break below this zone could push SHIB toward lower Fibonacci levels. How price reacts at these technical boundaries will likely influence sentiment across speculative crypto assets in the near term.