Shiba Inu (SHIB) is trading around $0.00000928, slipping 3% over the past 24 hours, as broader market volatility continues to pressure major meme tokens. Despite a brief rise earlier in the session, SHIB’s chart shows a clear loss of momentum throughout November 13, followed by a sharp decline that dragged the token to its daily low before a modest late-evening recovery attempt.
Market sentiment remains cautious, with a decrease in overall risk appetite pushing traders to reduce exposure to speculative assets like SHIB. The recent failed breakout attempts above 0.00000975 added extra weight to the pullback.
Intraday Chart Shows Strong Rejection Near Weekly Highs
From the TradingView chart, SHIB initially held steady in the upper trading range near 0.00000975–0.00000980, but selling pressure intensified sharply in the late afternoon. The steep decline toward 0.00000905 indicates heavy liquidation activity and weak support at mid-range levels.
The token briefly spiked in volume during the drop, suggesting panic selling or automated stop-loss triggers. However, buyers appeared around 0.00000905, pushing SHIB back toward 0.00000930 by session close, a sign that some traders are still accumulating dips.
Market Cap Declines as Volume Spikes 11.6%
Shiba Inu’s market cap has slipped to $5.45 billion, down 2.57%, reflecting the continued retreat from high-beta crypto assets.
However, 24-hour trading volume jumped 11.63%, indicating that the pullback is driven by active trading rather than a drop in demand or liquidity.
This rising volume during a downturn often signals a capitulation phase, the type of environment that can precede either a stronger rebound or a deeper correction.
Key Levels to Watch: Can SHIB Hold Above 0.00000920?
SHIB must maintain support near 0.00000920–0.00000925, or the price risks retesting the major psychological support at 0.00000900.
Upside resistance remains strong at 0.00000975, the area where today’s rejection began.
If market sentiment stabilizes and Bitcoin begins to recover, SHIB could attempt a rebound toward 0.00000960, but sustained weakness in meme tokens could delay any meaningful recovery.
