Shiba Inu (SHIB) shows signs of potential further decline following its technical rejection at critical resistance levels. The cryptocurrency’s price encountered strong selling pressure near the 200-day moving average at $0.0000145, signaling bearish sentiment among traders.
Market weakness is compounded by low whale activity and subdued trading volumes, indicating insufficient fresh capital inflows to sustain upward momentum. The Relative Strength Index (RSI) reveals diminishing buying pressure, limiting SHIB’s short-term recovery prospects.
Significant additional headwinds emerge from the 789.98 trillion SHIB tokens currently held underwater. These positions risk triggering sell-offs during any price rebounds, creating sustained downward pressure.
Analysts identify $0.0000133 as immediate support, with critical thresholds at $0.0000125 and $0.0000110 potentially determining the token’s medium-term trajectory. Market participants are monitoring these levels closely amid current bearish conditions.