I just saw this Shiba coin breakdown below the support that has held for over a month. SHIB dropped 3.3% last week, and that means the first weekly candle in three weeks is red. It indicates that momentum is starting to shift.

On the daily chart, SHIB broke below the upward trend line that previously acted as support. This dynamic demand zone has been holding the price since March 8 when SHIB touched the low of $0.00000523. This breakdown is not a fake-out with a small wick—it's a decisive breakdown, with a long-bodied candle, showing serious sellers.

Even more bearish, this Shiba coin forms a bearish engulfing pattern on the weekly chart. Last week's candle, which fell 3.8%, engulfs the green candle from the previous week. That’s a classic signal that sellers have regained control. Volume has also been steadily decreasing, indicating market participants are cautious.

Looking at the support levels, $0.00000520 is the next fortress. If that level is broken, SHIB could return to the February low of $0.0000050. But there’s one last stand—SHIB is still within the parallel channel formed since March. This channel has repeatedly acted as support and resistance. If the lower support zone of this channel is broken, it can confirm that the bearish trend is serious.

Overall, all indicators are pointing down. There’s no bullish divergence or other positive signals. For Shiba coin holders, it seems prudent to be cautious around the $0.00000520 support level. If it’s broken, a deeper decline could occur.