SHIB Rally Loses Steam After 40% Surge, Can Bulls Regain Control?

• SHIB lost momentum after a 40% rally met heavy selling near $0.0000058.
• Bulls defend key support while moving averages preserve the short-term recovery.
• A break below $0.0000046 could trigger liquidations near $0.0000045.

Shiba Inu delivered an impressive breakout before meeting strong resistance from sellers. The rally sparked fresh optimism across the meme coin market. That excitement cooled after profit-taking erased part of the advance. Even so, SHIB continues trading above a key breakout region. Buyers now face an important challenge. Holding current support could restore confidence and create another opportunity for higher prices during the coming trading sessions.

SHIB Pullback Tests Bullish Momentum

SHIB climbed nearly 40% after breaking above a long consolidation range. The move carried the price from roughly $0.0000041 to almost $0.0000058. Strong buying pressure fueled the breakout before sellers regained control. Heavy selling quickly appeared near the rally peak. The four-hour chart formed a long upper wick. That pattern showed strong rejection at higher prices. Profit-taking also increased as traders locked gains. Price later settled between $0.0000046 and $0.0000048. Despite the retreat, SHIB remains above July's previous trading range.

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