🔥 Key Takeaways
Shiba Inu (SHIB) Faces Uphill Battle as Bulls Fail to Gain Traction
Shiba Inu (SHIB), once a darling of the meme coin rally, is now struggling to stage a meaningful recovery. Recent price action indicates that bulls lack the strength to counter persistent selling pressure, leaving the token in a precarious position. Despite occasional minor rebounds, SHIB has failed to break key resistance levels, signaling further downside risk.
Technical Analysis Points to Weak Buying Pressure
Chart analysis reveals that SHIB remains trapped in a bearish trend. The Relative Strength Index (RSI) hovers near oversold territory, yet buying volume remains insufficient to trigger a sustained rally. The Moving Average Convergence Divergence (MACD) shows no signs of a bullish crossover, reinforcing the lack of momentum. Additionally, the 50-day and 200-day moving averages act as strong resistance zones, further dampening recovery hopes.
Market Sentiment and External Factors Weigh on SHIB
The broader cryptocurrency market downturn has compounded SHIB’s struggles. Bitcoin’s (BTC) inability to hold critical support levels has led to risk-off sentiment across altcoins, including meme coins. Moreover, regulatory uncertainties and macroeconomic pressures continue to deter speculative investments, leaving SHIB vulnerable to further declines.
What’s Next for Shiba Inu?
Unless SHIB witnesses a significant surge in demand or a broader market reversal, the token may continue to underperform. Traders should monitor key support levels, as a breakdown could lead to deeper losses. Long-term holders may need to brace for extended consolidation before any bullish resurgence.
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