#SHIB November 9 continued to weaken, falling below the $0.00000500 level and reaching a low of around $0.00000447. The overall trend is currently bearish. The 200-day moving average is at $0.00000545, well above the current price, indicating that long-term downward pressure remains significant.
Technically, the RSI is approaching oversold territory, suggesting the price may see a brief rebound, though a trend reversal is not yet confirmed.
Key levels:
Support: $0.00000440. If this level breaks, watch $0.00000410 and $0.00000400.
Resistance: $0.00000500–$0.00000530. Only a move back above this range could further strengthen the rebound.
Additionally, funds in the Shibarium ecosystem continue to shrink, and the number of tokens burned is insufficient to significantly reduce the massive circulating supply. For now, fundamentals lack strong support.
Technically, the RSI is approaching oversold territory, suggesting the price may see a brief rebound, though a trend reversal is not yet confirmed.
Key levels:
Support: $0.00000440. If this level breaks, watch $0.00000410 and $0.00000400.
Resistance: $0.00000500–$0.00000530. Only a move back above this range could further strengthen the rebound.
Additionally, funds in the Shibarium ecosystem continue to shrink, and the number of tokens burned is insufficient to significantly reduce the massive circulating supply. For now, fundamentals lack strong support.
