SHIB price rally fades after 40% breakout, can bulls recover?

Shiba Inu price surrendered much of its 40% breakout after sellers rejected the meme coin near $0.0000058, leaving bulls to defend a newly established support zone around $0.0000045. Summary SHIB price surged nearly 40% before retreating to approximately $0.0000047. Daily ADX climbed to 31.03, confirming that volatility has developed into a stronger directional trend. The 4-hour chart places immediate support between $0.00000444 and $0.00000466. Liquidation data shows dense leverage near $0.0000045, raising the risk of another volatility spike. SHIB price rally loses momentum According to data from crypto.news, SHIB price traded near $0.00000468 on July 31 after its vertical rally encountered heavy selling above $0.0000054. The token briefly reached approximately $0.0000058 during the breakout, marking a gain of nearly 40% from its pre-rally base around $0.0000041. However, the long upper wick on the 4-hour chart showed that sellers quickly absorbed demand near the peak. SHIB subsequently formed a series of lower highs before stabilizing between $0.0000046 and $0.0000048. The pullback leaves SHIB roughly 20% below its intraday peak, although the token remains above the range that c...