I was watching the Shiba Inu coin yesterday and noticed that the currency experienced a pretty interesting drop. SHIB fell more than 3% on Sunday, losing all the gains it had accumulated the previous week. First negative weekly candle in three weeks, which significantly changes the scenario.

What really caught my attention was the technical breakout. The Shiba Inu coin broke an upward trend line that had been supporting the price since March 8, when it reached a low of $0.00000523. That zone had been acting as a cushion for over a month, you know? But yesterday’s decline was convincing, with a long-bodied candle closing at $0.00000577. It wasn’t a quick touch of support; it was a decisive rupture.

On the weekly chart, there was also a bearish engulfing pattern, which is when a green candle is engulfed by a larger red candle. This signals that sellers have regained control. Volume is also decreasing, indicating caution in the market. All signs point downward now.

The next critical support the market is watching is $0.00000520. If Shiba Inu breaks below that, it will return to the lows of February 6. But there’s still a parallel channel formed in March that could serve as a last line of defense. For now, SHIB is in the lower range of that channel, but still within it. If it breaks out of this range, it strongly confirms the bearish outlook that’s forming.