SHIB Bearish Signals Intensify as Price Tests Critical $0.00000480 Support Level

SHIB faces downside pressure near $0.00000480 support after failing to hold 50-day MA. Long liquidations hit $176k while exchange reserves rise, signaling potential further correction.

Woofun AI data shows that SHIB is testing the lower boundary of a rectangle consolidation around $0.00000480, with sellers exerting pressure on this key support level. The asset failed to maintain positions above the 50-day moving average, which now acts as resistance, while recent daily candles display a sequence of lower highs indicating fading bullish momentum. Price has dropped below the rising 20-day moving average, and longer-term barriers at the 100-day and 200-day moving averages remain well above current levels.

Market metrics reflect increasing weakness, with the Relative Strength Index slipping toward 53 after leaving overbought territory. Long liquidations reached approximately $176,000 in the past day, significantly outweighing short liquidations of under $13,000, suggesting leveraged bulls absorbed the largest losses. Although spot market flows remain positive, negative futures flows indicate reduced leveraged exposure. Exchange reserves increased slightly, raising concerns about potential selling pressure if holders decide to lock in profits.