SHIB Breaks Below Cloud Support Following Intense Overnight Bear Activity

SHIB Drops Below Key Ichimoku Cloud Level Following Heavy Overnight Sell-Off

Shiba Inu (SHIB) experienced significant selling pressure overnight, pushing its price beneath the Ichimoku Cloud—an important technical indicator that often signals bearish trends when breached.

The token fell from highs around 0.00001305 to lows near 0.00001270, with volume surging as sellers dominated. This break below the cloud marks a critical juncture, indicating potential further weakness if support levels fail to hold.

Technical insights:

• Intense overnight selling drove the price below the Ichimoku support zone.
• Attempts to rebound met resistance near 0.00001290, keeping bulls at bay.
• The high volume accompanying the drop suggests strong conviction behind the move.
• Market watchers recommend close monitoring of next support levels to gauge potential recovery.

Without a swift return above the cloud, SHIB’s short-term outlook remains cautious amid ongoing market volatility.