UPDATE ON $SHIB
The recent selloff into the $0.0000058 region appears to have been a liquidity sweep rather than structural collapse. The aggressive bullish reaction that followed suggests demand absorption at discounted pricing.
Price advanced into the $0.0000070 supply band but met resistance, forming a rejection wick that signals short-term distribution. Now SHIB is rotating lower to test mid-range support around $0.0000063–$0.0000064.
If this level holds and buyers establish a clear higher low, the market transitions from corrective to recovery phase. A sustained push above $0.0000070 would confirm continuation toward upper liquidity zones.
Failure to defend $0.0000060 would invalidate the short-term bullish structure and reopen downside risk.
The chart is at a decision point, and the next 4H candles carry weight.