Shiba Inu (SHIB) has recently encountered significant turbulence as it failed to maintain a crucial support level around $0.00002, a level that previously provided stability amidst market volatility. The breach of this support has intensified selling pressure, pushing SHIB lower towards the $0.00001 mark. Unfortunately, current market conditions suggest little immediate relief for SHIB.

On a daily chart, the sharp decline following the breach of $0.00002 is evident, exacerbated by strong selling momentum. Although the Relative Strength Index (RSI) indicates oversold conditions, suggesting a potential pause in the downtrend, the prevailing sentiment remains bearish. Investors are closely monitoring two critical zones: $0.000015 and $0.00001, where potential reversals could occur if buying interest emerges.

Psychologically, these levels often act as pivotal points where market sentiment can shift. The $0.00001 level, in particular, holds significant importance as a historical support level. Historically, such round numbers tend to attract buying interest and may serve as a foundation for a potential price recovery.

Looking further back, SHIB faces a critical test of its resilience if it descends towards multi-month lows, marking a pivotal moment for its market trajectory. The weekly chart provides a broader perspective, showcasing major resistance at $0.00002 and underscoring long-term support levels. Despite oversold conditions indicated by the weekly RSI, suggesting a potential rebound, the current market sentiment remains cautious and bearish.

In conclusion, Shiba Inu's recent price action highlights the vulnerability of its support levels and the prevailing bearish sentiment in the market. While there are potential reversal zones at $0.000015 and $0.00001, the broader trend suggests that SHIB may face continued pressure towards lower levels, potentially testing multi-month lows. Investors are advised to monitor these critical support levels closely as they navigate the evolving dynamics of the SHIB market.