Shiba Inu (SHIB) is once again nearing the crucial $0.00001 level, a psychologically and technically significant price point. Since early February, SHIB has trended downward, and the latest price action suggests further declines could follow. The asset has failed to break above the 26-day exponential moving average (EMA), which often acts as dynamic resistance in bearish markets.
Rejections Confirm Bearish Sentiment
Every recent breakout attempt has failed, reinforcing the idea that buyers remain reluctant at these price levels. The 26 EMA continues to reject upward momentum, further confirming the asset’s bearish tone. In addition, the lack of bullish drive indicates SHIB lacks the energy needed to reverse its current course.
Source: TradingView
Trading volume also paints a worrying picture. Unlike in some cases where low volume may suggest bearish exhaustion, here it likely signals disinterest from both institutional and retail traders.
Related article: SHIB Price Recovery Sparks Bullish Momentum: Can It Climb 42%?
With such minimal participation, SHIB remains vulnerable to sharp sell-offs, especially if broader market volatility returns.
Technical Indicators Offer No Relief
Moreover, key indicators provide no signs of strength. The Relative Strength Index (RSI) sits in neutral territory, showing neither upward pressure nor buying momentum. SHIB also remains firmly below its 50, 100, and 200-day moving averages, underscoring the token’s weak technical structure.
Related article: Shiba Inu’s Whale Activity Jumps 784% as Market Recovers
Shiba Inu last tested the $0.00001 support level in March, which now serves as a key psychological barrier. A clear breakdown below this level could cause panic among holders and lead to a “zero addition” scenario, where the token loses another decimal place in value.
For now, SHIB must regain its short-term moving averages and attract fresh volume to prevent a deeper correction. Without renewed interest, the meme token risks falling further. The coming days may prove decisive as SHIB teeters on the edge of a continued bear phase.
