SHIB Holds Just Above $0.0000045 After Breaking August Trendline

August Trendline Gives Way

On Tuesday, November 3, the Shiba Inu (SHIB) price held near $0.00000465, up about 1.8% over 24 hours, but the session only confirmed how much ground the token has lost. The daily candles of early November broke below the ascending support trendline that had been rising since August, and that break removed the last piece of bullish structure left on the chart. The trendline had caught every dip since it formed in August, which is why its loss carried more weight than an ordinary support break. What began as an orderly uptrend in late summer has turned, two months later, into a correction of lower highs with no confirmed floor. At a market capitalization of $2,739,957,895 and 24-hour volume of $23.4 million, liquidity is thin relative to the size of the levels now in play.

COINOTAG's own composite scoring puts numbers on how compressed this market has become. The strongest resistance overhead, a cluster that includes the lower Bollinger Band and the 0.786 Fibonacci retracement, scored 93 out of 100, while the strongest support beneath, built around the recent swing low, scored 89 out of 100, so the two best-confirmed levels on the chart sit unusually close together. Derivatives positioning is light: the funding rate printed 0.0071% on perpetuals and open interest stood at $8,735,442, which suggests the downtrend has run on spot selling rather than a flush of leveraged longs. The MACD signal stayed bearish, the trend filter reads downtrend, and the Fear and Greed Index at 26 out of 100 keeps sentiment in fear, a condition that has held since the September top failed.

The route here ran through September. A rally toward $0.0000062 stalled at that level and rolled over, and every recovery attempt since has printed a lower high while buying pressure kept thinning. Shiba Inu (SHIB), once the headline memecoin trade of the last cycle, now trades below the 20-day, 50-day, 100-day and 200-day moving averages, a stack of supply that caps each bounce before it can travel. Recent sessions pushed the token to roughly $0.0000045 before a slight stabilization attempt, and the bounce so far lacks the volume to be called a reversal. Momentum indicators stayed weak through all of it. Shiba Inu remains one of the most closely watched altcoin stories of the quarter for a simple reason: the structure that supported the market since August is gone, and traders are now deciding whether $0.0000045 is a floor or the next step down.

Summer Low and the $0.0000045 Line

Momentum readings explain why bounces keep failing. The relative strength index has sat between 35 and 40 in recent sessions, deep in bearish territory and edging toward oversold, which raises the odds of a short-term technical rebound without confirming anything durable. Past oversold extremes in this market have produced relief rallies that faded within days when volume did not follow. Volume tells the same story: the stabilization near $0.0000045 came on thin buying, and demand has stayed too weak to force a reversal.

The ladder below is short. A confirmed loss of $0.0000045 would open $0.0000043 and then $0.0000041, and past those sits a retest of the summer low. That summer low is the last major shelf from the warmer months, and it anchors the bearish scenario if $0.0000045 fails. Overhead, the first resistance band runs from $0.0000049 to $0.000005. A move back above $0.0000052 would repair the short-term structure, while $0.0000055 remains the long-term hurdle the bulls have not seriously approached since September. The moving-average order itself matters here: with all four major averages stacked above price, rallies tend to stall at the first average they meet rather than at the distant long-term ones.

The longer record adds nuance. Reserve tracking showed exchange holdings back at 85.84 trillion tokens in early November, and a COINOTAG review found the token had added 147,593 holders through 2026, signs that the holder base kept growing even as the chart deteriorated. COINOTAG had separately flagged the $0.00000460 breakdown setup as bearish indicators lined up. Readers can follow the full support and resistance levels on our technical analysis page for the token. While Shiba Inu (SHIB) trades below $0.0000052, the bearish reading stands. No higher high has printed since September, and a meaningful recovery would need both heavier volume and a clean reclaim of the trendline lost this week.