SHIB is down another 7.2% today, trading at around 0.0000046u. The earlier spike a few days ago is now being slowly unwound.

Over the week it’s still up, up 8%, but compared with the 25% surge reported earlier, it has already been compressed quite a lot. The one-month gain has also dropped from 20% to less than 10%. This kind of price action—where gains are continuously squeezed—suggests that the people who chased higher earlier are still gradually exiting, and the sell-off hasn’t ended yet.

The 24-hour high is 0.00000506, and the low is 0.0000046. Today’s drop has directly smashed through the high-level washout mentioned earlier—harder than I expected.

The circulating supply is basically the entire total supply. This pullback is purely driven by profit-taking funds and sentiment, not supply.

At this level, if these two days can hold and the price stops continuing to fall, it would mean that some of the earlier breakout can still be kept. If it keeps getting driven lower, then the weekly and monthly gains from this move may be wiped out very quickly, and you’ll have to rethink whether this rally is truly over. If you’re holding positions, be extra careful right now. Those looking to short can follow the momentum, but you also need to guard against an oversold rebound. #shib $SHIB