Shiba Inu's price has surrendered much of its 40% breakout, with sellers rejecting the token near $0.0000058. The price traded near $0.00000468 on July 31, after encountering heavy selling above $0.0000054. The token briefly reached approximately $0.0000058 during the breakout, marking a gain of nearly 40% from its pre-rally base around $0.0000041.
Price Analysis
The pullback leaves SHIB roughly 20% below its intraday peak, although the token remains above the range that contained its price through most of July. The token is trading around its 20-period and 50-period simple moving averages, located near $0.00000466 and $0.00000468, respectively. Holding this area would allow buyers to establish a higher base after the breakout.
Market Structure
A 4-hour close above $0.0000048 would be an early bullish signal, with SHIB facing resistance at $0.0000050, followed by the post-breakout supply zone between $0.0000052 and $0.0000054. The 3-day liquidation heatmap shows that SHIB is trading between two notable leverage clusters, with the largest nearby concentration sitting below the market around $0.00000450 to $0.00000452.
