I just saw Shiba Inu break through the support level that has held the price since March. This isn't a small breakout—candles are long with enough volume, so it seems like sellers are serious about going down. The dynamic support level around 0.00000523, which has held for over a month, finally couldn't withstand the pressure.

What makes it concerning is that the weekly pattern also looks bearish engulfing. Last week’s candle covered the previous week’s gains, and that usually signals that momentum has reversed. Volume is also starting to thin, indicating market participants are cautious.

Right now, Shiba Inu is testing the next support zone at 0.00000520. If this level also breaks, SHIB could return to the February low at 0.0000050. Meanwhile, there’s a parallel channel formed since March that might be the last stand if the breakdown continues.

All indications point downward for now. A bullish divergence or other positive signals are needed to consider a long position in Shiba Inu. For now, it’s better to monitor that support level and see whether it holds or not.