Shiba Inu not finding enough volume for recovery Advertisement

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With market observers anticipating another test of the psychologically and technically significant $0.00001 level, Shiba Inu is once again approaching a critical price juncture. Since early February, the meme-inspired token has been trapped in a persistent downward trend, and current price action indicates that SHIB holders may be in for more suffering. A crucial short-term moving average that frequently serves as dynamic resistance in bearish trends, the 26 EMA has not been broken by the asset.

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The market's persistent weakness and the absence of the bullish momentum required for a reversal are confirmed by the rejection at this level. Since every breakout attempt has been quickly rejected, it is clear that buyers are hesitant to intervene at the current price levels. A concerning lack of trading volume is contributing to the pessimistic outlook. 

Low volume may occasionally indicate bearish exhaustion, but in the case of SHIB, it seems more likely to reflect institutional and retail participants' disinterest. Since there is not much volume, the token is susceptible to sudden steep declines, especially if selling pressure resumes in the face of increased market turbulence. A possible breakdown is further supported by technical indicators.

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No indications of strength or momentum building are visible as the RSI remains in the neutral zone. SHIB, meanwhile, is still below the 50, 100 and 200 major moving averages, confirming its bearish structure and indicating that any recovery is probably going to be brief unless it is supported by a significant change in sentiment. SHIB last tested the $0.00001 level in March and it currently serves as a historical and psychological support.

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The meme coin's downward trend could be accelerated by a clear break below it, which might lead to panic-selling and even a zero addition situation in which the token loses another decimal place in value. For now there is still a chance that SHIB will drop further unless it can recover its short-term moving averages and draw volume support. The next few days could decide whether Shiba Inu can maintain the line or continue to descend into its bear phase.