Shiba Inu Struggles to Recover Amid Persistent Market Downtrend

Shiba Inu Struggles to Recover Amid Persistent Market Downtrend

Shiba Inu (SHIB) continues to face significant challenges in regaining upward momentum, with its price lingering around $0.00001575 and displaying a clear downtrend. The asset has consistently formed lower highs, signaling sustained bearish pressure and a lack of strong recovery attempts.

Multiple failed attempts to break through key resistance levels have reinforced SHIB’s bearish trajectory. The 200-day EMA (black), 100-day EMA (orange), and 50-day EMA (blue) are all positioned above the current price, serving as formidable resistance barriers. These indicators confirm the prevailing downward trend, suggesting that SHIB remains under selling pressure.

A key factor contributing to this prolonged decline is the lower high formation, which highlights diminishing buying interest with each minor relief rally. This pattern typically signifies persistent sell-offs, making it increasingly difficult for SHIB to stage a meaningful recovery. If the bearish momentum continues, the asset could break below the critical $0.00001500 level, potentially adding another zero to its price.

The next major support levels to watch are $0.00001400, followed by $0.00001300 if the decline persists. A breach of these levels could push SHIB into an extended bearish phase. Conversely, for any signs of a bullish reversal, SHIB would need to break above the descending EMAs and invalidate the current downtrend. Only then could it aim for the $0.00001800-$0.00002000 range. However, this scenario appears unlikely in the near term due to weak trading volume and a lack of strong buying pressure.

At present, SHIB remains under heavy selling pressure, with limited intervention from bullish investors. Traders should closely monitor the $0.00001500 support level, as a decisive break below this threshold could accelerate the decline further. With the bears firmly in control and no clear catalysts for a recovery, caution remains the best approach for those considering entering or holding SHIB positions. Unless broader market conditions improve, the risk of further losses remains high.