Shiba Inu Price Falls 12% After Rejection From Key Resistance

• SHIB faces strong rejection near $0.00001558, risking a drop below key support.
• Bearish momentum dominates as SHIB trades near $0.00001328 with weak buyer conviction.
• Lunar cycle suggests a potential SHIB rebound in mid-August before a fall rally.

Shiba Inu (SHIB) continues to face mounting pressure as market sentiment turns cautious. Following a sharp rejection near the $0.00001558 resistance level, SHIB has now dipped to $0.00001330, marking a significant 11.91% drop over the past 24 hours. The recent price action suggests fading bullish strength, especially as the token hovers just above a vital support zone at $0.00001328. 

With over $556 million in daily trading volume, the activity remains high, but the direction leans bearish. SHIB’s consolidation phase appears to be extending, raising concerns about a deeper correction if support fails to hold.

SHIB now testing a critical support level

SHIB’s daily chart shows clear signs of consolidation after a failed attempt to breach the $0.00001558 resistance. According to SHIB KNIGHT, the recent bearish candle confirms a strong rejection and fading bullish momentum. 

Bulls now face the challenge of …

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