The Shiba Inu (SHIB) meme coin is facing a downward trajectory and approaching a critical threshold, with a loss of over 5.60% in the last 24 hours. The token's trading volume has dropped by 41%, while its burn rate has increased by over 226%. Despite a bullish sentiment over the past thirty days, SHIB has lost 5.45% in the last week. Technical indicators suggest the asset's struggle to overcome the bearish trend, with short-term and long-term moving averages above the current price and an oversold condition. Breaking past the 0.000016 resistance level could signal a bull cycle, while losing it could push the price towards the $0.00001508 support zone.



Other News from Today