There has been a serious problem with the SHIB price in recent days. It dropped over 3% last Sunday and gave back everything it gained last week. Even worse, it formed its first weekly red candle in three weeks. The momentum has clearly shifted.

Actually, the more important thing is this: the SHIB price has fallen below the long-standing support ascending trend line. This line had been holding the price since the low on March 8, but it can no longer do so. It closed yesterday at $0.00000577, and this is a clear breakout. Not a false signal, but a real move.

Looking at the technicals, it doesn't look good either. On the weekly chart, there is a dark bearish engulfing pattern. The volume is also decreasing, indicating that participants are cautious. I don't see any bullish divergence or positive signals.

After this support was broken, the SHIB price became vulnerable. The next level is $0.00000520; if that is broken, it could fall back to the lows of February 6. But still, SHIB remains within the parallel channel formed since March 11. This channel could be the last line of defense. If the lower boundary of this band is broken, the downtrend will become even more clear.