Such Breakdown, Much Bearish: SHIB's Trendline Support Pulls a Houdini

Shiba Inu ($SHIB) just had a rough Sunday, dropping 3.3% and giving back all its gains from the previous week. This marks the meme coin's first weekly red candle in three weeks—and for SHIB holders, that's not great news. Apparently, the "hold the line" energy lasted about as long as a TikTok attention span. Woof.

On the daily chart, SHIB broke below an ascending trendline support that's been cushioning prices since March 8, when $SHIB hit an intraday low of $0.00000523. Yesterday's move was decisive—a long-bodied candlestick closed at $0.00000577, no fake-out, no wick games. Just pure bearish conviction. The trendline didn't just break; it vanished like my portfolio after a bad weekend trade.

On the weekly timeframe, $SHIB logged a bearish engulfing candle. That 3.8% decline swallowed the prior week's green candle whole. Bears are back in the chat, and they're loud. Apparently, someone forgot to tell the bulls it was their turn to speak.

Trading volume is drying up, which tells us market participants are ti