Shiba Inu (SHIB), the popular meme coin, found itself in the crosshairs of intense selling on Wednesday, with the token slipping under key price levels despite encouraging signals in global trade talks between the U.S. and China.
The sharp correction comes amid growing market caution. SHIB dropped 6.4% from 0.0000159 to a low of 0.0000149, with traders offloading positions as risk sentiment shifted. The 7.5% swing in intraday range underscored the heightened volatility.
What Happened:
- SHIB broke below support zones at 0.0000156 and 0.0000152, as a series of lower highs established a clear downtrend.
- The most aggressive sell-off occurred around 07:00 UTC, with volume spiking to 1.43 trillion tokens—nearly twice the daily norm.
- A steep plunge between 13:33 and 13:36 UTC sent prices to 0.0000147. Volume surged past 83 billion SHIB at 13:35, creating a crucial support floor.
- A swift recovery followed, forming a textbook V-shaped bounce that brought SHIB back to 0.0000149 by late session.
Support now holds at 0.0000148, while resistance has solidified near 0.0000152. Traders appear to be eyeing the next catalyst—either a continuation of the bounce or renewed downward pressure.
Despite macro-level positivity, including improving U.S.–China trade dynamics, SHIB’s recent price action shows how quickly speculative sentiment can reverse. For now, traders are bracing for the next move, with eyes fixed on both technical charts and broader economic cues.
