Shiba Inu Price Drops 10%, Support Comes Under Pressure

Shiba Inu (SHIB) has erased most of its latest breakout gains after a sharp 10% drop pushed the token back toward a key technical support zone.

SHIB briefly climbed above $0.00000620 before sellers took control. The token then fell toward $0.0000056, with Sept. 23 data showing a low near $0.00000554 and a close around $0.00000564.

The reversal has put the 200-day moving average back in focus.

SHIB Loses Momentum Above $0.000006

The recent breakout initially looked significant because SHIB moved above the long-term moving average with stronger trading activity.

However, sellers appeared aggressively between $0.0000060 and $0.0000063. SHIB reached a high near $0.00000624 before reversing sharply.

That rejection suggests this area remains an important supply zone.

Related: Shiba Inu, Hyperliquid, Dogecoin and Monero price analysis for September 16: Bears take upper hand

$0.0000056 Becomes the Key Level

The most important question now is whether SHIB can hold above the $0.0000055 - $0.0000057 region.

The token briefly dipped to around $0.00000554 before recovering. Current market data places SHIB near $0.0000057, keeping it close to this support zone.

If buyers defend the area and push SHIB back above $0.0000058, the recent drop could become a retest rather than a failed breakout.

That would put $0.0000060 and $0.0000062 back on the radar.

Losing the 200-Day Average Would Change the Setup

The downside becomes more concerning if SHIB loses its 200-day moving average decisively.

The next support sits around $0.0000054, followed by the cluster of shorter-term moving averages near $0.0000051 - $0.0000052.

A break below those levels would weaken the recovery structure and suggest that the recent move above $0.000006 was a failed breakout.

Momentum has also cooled quickly. The sharp reversal has pushed SHIB away from the stronger conditions seen during its recent rally.

What Comes Next for SHIB?

SHIB is now at a technical decision point.

Holding $0.0000055 - $0.0000057 would give buyers a chance to rebuild momentum and attempt another move toward $0.0000060.

A sustained break below that zone, however, would make the recent breakout look increasingly unreliable and bring lower support levels into focus.

For now, $0.0000056 is the level to watch. The reaction there could determine whether SHIB's latest decline is simply a retest or the start of a deeper correction.