Shiba Inu is still stuck in bearish territory, trading below both its 50-day and 100-day Exponential Moving Averages with no credible reversal in sight. The 50-day EMA sits beneath the 100-day EMA, a crossover that typically means sellers are calling the shots.
According to market commentator Dukes Markets Analysis, writing on TradingView in a note titled "SHIB: From Meme Queen to New Historic Lows," any bounce from current levels should be read as a corrective move rather than the start of a genuine recovery. As Dukes put it, the broader technical structure keeps favoring more downside until buyers prove otherwise.
The Level That Could Change Everything
Dukes pinpointed $0.00000458 as the first real test for bulls. That price once acted as solid support before caving and flipping into resistance. A decisive daily close above it would be the first concrete sign that buyers are gaining ground. Until that happens, the trend stays bearish by default.
Momentum readings are a mixed bag. The RSI has ticked up from its lows but remains below the neutral 50 mark, meaning bears still outweigh bulls in terms of raw momentum. The Stochastic RSI is climbing steadily and hasn't hit overbought territory yet, which leaves a little room for a short-term bounce. Volume, though, is thin. Dukes flagged that trading activity remains subdued on both sides, and without a meaningful surge in buying volume, any push above $0.00000458 risks fizzling out the same way earlier attempts did.
SHIB's price is near historic lows, the momentum gauges are sending cautiously less-negative signals, but the chart structure hasn't flipped. That gap between "selling slowing down" and "buyers actually taking over" is where SHIB is sitting right now.
This article is for informational purposes only and does not constitute financial advice. Crypto assets carry significant risk; always do your own research before making investment decisions.
