SHIB's Trendline Support Goes Full 'Invisible Mode'—Bulls Scratching Their Heads

Shiba Inu took a 3.3% nosedive on Sunday, erasing every crumb of gains it had stacked the previous week. The meme coin flashed its first weekly red candle in three weeks, throwing up a neon sign that reads "momentum shift"—and holders are definitely side-eyeing their portfolios like they just found a suspicious charge from 2021.

On the daily timeframe, SHIB decided to ghost its ascending trendline support—the same one that's been holding things together since March 8, when $SHIB touched an intraday low of $0.00000523. The breach was clean and decisive, a long-bodied candlestick close that said goodbye to support without even leaving a note. Pure breakdown energy, no drama.

This move dragged SHIB to its lowest price since the February 6 crash to $0.0000050, but whale activity back then was like a concerned neighbor shouting "get off my lawn!" to keep prices propped up. Since then, the token has been hanging out on this ascending trendline like it's rent-controlled—until yesterday, when it closed at $0.00000577 and decided to move out.

The weekly chart isn't doing bulls any favors either. SHIB cooked up a bearish engulfing candle, with last week's 3.8% decline basically swallowing the prior week's green candle whole. Bears have reclaimed the driver's seat, and bulls aren't even getting a hint about when they might touch