Shiba Inu Bulls Hit a Wall—Buyers Step In to Prop Up the Meme Coin

Shiba Inu’s rally stalls as buyers scramble to defend key support levels. The meme coin’s latest pump runs into resistance—traders now weigh whether the ’doge killer’ has legs or just hype.

Market watchers note the irony: a token born as a joke now demands serious technical analysis. Meanwhile, Wall Street still can’t decide if crypto is an asset class or a speculative fever dream.

Further, the price chart shows the downtrend from the May 12 highs is still intact.

Key technical insights

• Notable support has been established at $0.00001267, where buyers consistently stepped in during early hours.
• Price action formed a clear uptrend with higher lows and higher highs, breaking through key resistance levels at $0.00001294 and $0.00001313.
• Initial consolidation period (01:07-01:34) established support at $0.00001330, followed by an explosive breakout at 01:35 with the highest volume spike (14.6B).
• Price action formed a clear ascending channel with higher lows, culminating in a new local high at $0.00001345.
• Slight profit-taking emerged in the final minutes as volume tapered off, suggesting potential short-term resistance but maintaining overall bullish structure.