Shiba Inu Drops 2.36% Amid Bearish Pressure

Shiba Inu (SHIB), a meme-inspired token that has evolved into a significant player in the DeFi and metaverse sectors, continues to draw speculative interest despite its recent decline. Following an explosive run in 2021, SHIB's price action has cooled, hovering near support zones as investors await a catalyst. The latest daily and hourly charts reveal a tight tug-of-war between bears and bulls, but a breakout could be closer than it appears. Let’s delve into the current technical structure and its implications for SHIB holders in the days ahead.

The daily chart indicates prolonged bearish pressure. SHIB is currently trading at $0.00001212, marking a 2.36% decline for the day. The price has continued to reject the 50-day Simple Moving Average (SMA) and remains under all key SMAs — the 20, 50, 100, and 200-day — a clear sign of bearish dominance. The Moving Average Ribbon (SMA Ribbon) reveals a descending alignment, with no sign of crossover, which generally indicates a sustained downtrend. The 200-day SMA at $0.00001912 is especially significant; reclaiming it would mark a major trend reversal. Until then, SHIB remains in a long-term downtrend.

Volume indicators, while not explicitly shown, correlate with the Accumulation/Distribution Line (ADL), which is flattening and showing a slight decline — implying that whales and smart money are not actively accumulating at current levels. This weak accumulation could mean investors are waiting for a stronger dip or a news-driven catalyst.

Switching to the hourly chart, the picture becomes more nuanced. SHIB showed a slight intraday rebound, gaining 0.96% from its previous hourly close. However, this bounce ran into immediate resistance at the 50-hour SMA, currently around $0.00001247, and got rejected. This intraday weakness indicates that short-term bulls lack conviction. The ADL on the hourly chart is attempting to curl upward after forming a base, suggesting small pockets of accumulation during dips. However, this remains weak and inconsistent. The 200-hour SMA looms above at $0.00001309, which now acts as the critical resistance barrier for any short-term recovery.

Despite the minor price uptick, the SMA Ribbon continues to slope downward — reinforcing the idea that any rallies may be short-lived unless a breakout over the 100-hour and 200-hour SMAs occurs with strong volume.

On the daily timeframe, the Heikin Ashi candles are red and flat-bottomed, confirming a strong bearish trend with no significant wicks to the downside — this implies clean selling pressure without much buying support. Unless SHIB price prints a green Heikin Ashi candle with a higher high and longer upper wick, the trend remains unchanged. The SMA indicators are stacked bearishly (20 < 50 < 100 < 200), forming a classic downward ribbon. This is a textbook sign of a persistent downtrend with little chance of reversal unless a bullish crossover emerges — particularly the 20-day SMA flipping above the 50-day. The ADL also reflects more distribution than accumulation, weakening the case for a near-term breakout.

On the hourly chart, while a small bounce occurred, the resistance at the 100-hour and 200-hour SMAs proved too strong. The ADL uptick may indicate a short squeeze or opportunistic buys, but it doesn’t suggest a trend reversal just yet.

In the near term, if SHIB fails to hold support at $0.00001200, it could revisit recent lows near $0.00001150. On the flip side, a clean breakout above $0.00001250 with a strong green Heikin Ashi candle and bullish ADL divergence might push SHIB toward the psychological resistance at $0.00001300. However, a sustainable uptrend would require SHIB price to break above $0.00001370 (the 100-day SMA) and reclaim $0.00001690 to invalidate the bearish structure and regain bullish momentum.

Right now, SHIB is in no man’s land — caught between weak support and strong resistance. The daily trend is decisively bearish, while the hourly chart hints at speculative bounces rather than solid accumulation. Unless a news catalyst, such as a SHIB ecosystem update or broader crypto rally, injects new volume, it’s likely that SHIB price will continue to drift or drop further. For traders, this is a wait-and-watch zone. For long-term holders, any deeper dip may provide a better accumulation opportunity — but only with risk management in place.