Shiba Inu saw its sharp momentum cool down with an 11% drop over the past day. After earlier this week leading the memecoin surge and attracting fresh speculative investments, profit-taking drove the dip.
The pullback is bringing focus back to an unfilled price gap between $0.0000042 and $0.00000485. This imbalance zone often acts as a magnet for buyers looking to jump back in, especially since SHIB has remained above its 20-day and 50-day EMAs on the daily chart.
Technical Signals and Market Moves
Momentum gauges mirror this shift: the Stochastic RSI dropped from an overbought level above 80, confirming the ongoing short-term selling pressure. The middle of this imbalance zone, sitting around $0.00000456, could serve as a target for stabilization or rebound.
On-chain data supports the technical picture. Token burn rates fell sharply within the last 24 hours, removing a key supply constraint that had fueled the earlier rally. Meanwhile, derivatives markets reflected a wave of liquidations.
More than $2.1 million in leveraged long positions were wiped out during this correction, indicating traders with high exposure have exited. This liquidation trimmed some of the overextended positioning from recent gains.
The market seems to be taking a breather rather than reversing entirely. If buyers defend the imbalance zone, SHIB has a chance to settle down and continue its bullish momentum.
This material is for informational purposes only and does not constitute financial advice.
