Shiba Inu's Downward Spiral: What's Next for the Meme Coin?

Shiba Inu, the popular meme coin, has been on a rough patch lately.

• Value Drop: 7% in a single day
• Monthly Loss: Over 26%

Technical Indicators

• Support Level: Broken below a crucial level
• Daily Chart: Clear downward trend
• Moving Averages: All above current price

Potential Further Losses:

• Could retest $0. 0000068–$0. 0000070 range

Investor Sentiment

• Outflows: $3. 1 million in a single day
• Market Demand: Lack of significant inflows
• Sell Pressure: Heightened risk

Performance Comparison

• 24-hour Decline: 7. 5%
• Weekly Loss: 20. 8%
• Monthly Drop: 26%

Compared to Dogecoin:

• Stronger community-driven momentum

Shibarium's Impact

• Adoption: Slow
• Utility: Not enough to offset supply
• Circulating Supply: 589 trillion coins

Resistance Levels

• $0. 0000105
• $0. 0000119
• $0. 0000132

Recovery Signal:

• Sustained close above the 50-day EMA