Thoughts on $SHIB Retesting 0.00000400 by Month-End
Watching $SHIB closely here. We've seen it bounce off 0.00000409 today, but the overall pressure still feels like it's to the downside, especially given the lack of any significant catalyst recently. I'd put the odds of seeing a retest of the 0.00000400 level, or even a brief dip just below it, by month-end at around 65-70%.
Reasoning is largely based on the daily chart structure; lower highs are still very much in play and volume on these small bounces isn't convincing enough to signal a reversal. Any broader market risk-off sentiment would accelerate that. If it breaks decisively below 0.00000400, then the next psychological support probably sits closer to 0.00000380. Conversely, a strong move above 0.00000430 on decent volume would invalidate this bearish outlook for now.
I'm with you on the downside pressure; the broader market sentiment isn't exactly helping it catch a bid either. Do you think a move below 0.00000400 would trigger a sharper sell-off, or could we see some support build up if it consolidates there?