Shiba Inu (SHIB): Biggest Loss of This Summer

Key Points

1. SHIB initially appeared to hold above important moving averages but confirmed a breakdown below the 50 EMA.

2. Currently trading at around $0.00001223, SHIB is close to another structural support level, with potential for further decline to $0.00001100 or lower.

3. Volume dynamics are weak, and the RSI is approaching oversold territory, indicating a bearish short-term outlook.

4. Unless bulls act quickly, SHIB's price may continue to struggle in a choppy market.