Shiba Inu continues to struggle within a persistent downtrend. The market structure shows no indication of a bullish shift. SHIB trades below all major moving averages, signaling ongoing weakness in price action.
SHIB is trading at around $0.000007260 at press time, indicating a 2.37% decline in the last 24 hours.
SHIB price chart, Source: CoinMarketCap
The 200-day moving average sits far above current levels. This key technical indicator serves as a distant ceiling rather than an achievable target. Multiple attempts to break higher have failed over recent months. The latest upward movement appears no different from previous rejected rallies.
Price action reveals sellers maintain firm control. SHIB cannot overcome even short-term resistance levels. Each bounce meets fresh selling pressure. The pattern of lower highs and lower lows remains intact. This technical structure confirms the bearish trend continues without interruption.
Weak Volume Signals Absence of Genuine Demand
The recent green candle lacks substance. Buyers did not step in aggressively to push prices higher. Instead, sellers temporarily stepped aside. This created a temporary vacuum that allowed prices to drift upward without meaningful support.
Source: TradingView
Trading volume tells the real story. Activity levels did not increase significantly during the bounce. No surge in demand appeared. Accumulation patterns remain absent from the charts. The price movement represents low-liquidity drift rather than genuine buying interest.
This distinction matters significantly for traders and investors. True reversals occur when demand overwhelms available supply. Current conditions show supply merely pausing. Sellers return as soon as prices approach resistance zones. The lack of sustained buying pressure prevents any meaningful recovery.
Technical Indicators Confirm Bearish Momentum
The Relative Strength Index remains weak and flat. RSI cannot generate sustained upward momentum. This indicator reflects market indecision and a lack of bullish conviction. No structural pressure exists that might force short sellers to cover positions.
The technical setup lacks all components necessary for a bull market. Genuine bull runs require higher highs and restored support levels. Rising volume must accompany upward price movement. SHIB exhibits none of these characteristics. The asset remains stuck in a gradual decline that erodes previous gains.
Years of narrative-driven optimism face erosion. The meme coin phenomenon that drove earlier rallies appears exhausted. Without fundamental changes to market dynamics, the most probable scenario is further downside.
Source: https://coinpaper.com/13250/shib-s-silent-collapse-the-signal-everyone-is-missing
