Shiba Inu price is testing a key support at the daily SMA 200 after a 13% fall from its Sept. 13 high; traders watch $0.00001298 for a potential bounce and $0.00001279 as the next downside target.
SHIB fell 13% from its Sept. 13 high, testing daily SMA 200 at $0.00001298.
Market-wide liquidations and profit-taking drove meme-coin weakness; $425M liquidated in 24 hours (CoinGlass).
Short-term recovery hinges on holding $0.00001298; failure risks a drop to $0.00001279 and then $0.00001181.
Shiba Inu price testing SMA 200 support after a 13% drop; read the data-driven breakdown, key levels, and trader actions — stay informed now.
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How is the Shiba Inu price testing support?
Shiba Inu price is testing the daily SMA 200 at $0.00001298 after a rapid 13% decline from the Sept. 13 high of $0.00001484. The SMA 200 level is the immediate technical pivot; holding it would open a path back above $0.000013 and toward recent highs.
Why did SHIB fall sharply over 48 hours?
Broad market weakness and profit-taking triggered the move, with $425 million in liquidations across crypto assets over 24 hours, according to CoinGlass. Meme coins underperformed: Dogecoin, PEPE and Bonk recorded double-digit swings that amplified selling pressure.
SHIB/USD Daily Chart, Courtesy: TradingView
What are the key short-term levels for SHIB?
Front-loaded key levels: immediate support at the daily SMA 200 ($0.00001298), secondary support at $0.00001279 (SMA 50), then $0.00001181. Resistance resides at $0.000013, $0.000014 and $0.00001484.
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Traders should watch liquidations, volume, and on-chain flows. Increased selling and higher liquidation totals (CoinGlass) suggest short-term downside risk. If volume wanes and support holds at SMA 200, look for consolidation and a potential retest of $0.000013.
Shiba Inu declined about 13% from its Sept. 13 high of $0.00001484 to an intraday low near $0.00001297 within two days, testing the daily SMA 200 level at $0.00001298.
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Source: https://en.coinotag.com/shiba-inu-may-test-key-sma-200-support-after-13-two-day-drop/