Shiba Inu Rises 1.429% Despite Bearish Pressure, Experts Skeptical of Dogecoin Overtake

Shiba Inu's latest price was $0.00001184, up 1.429% in the last 24 hours. Shiba Inu, a prominent memecoin, continues to hold its position as the second-largest memecoin on CoinMarketCap, trailing only Dogecoin. Despite recent challenges and bearish technical signals, SHIB maintains its relevance due to strong community support and ongoing ecosystem developments. Analyst data from $SHIB KNIGHT indicates that SHIB has outperformed other memecoins like PEPE and BONK, highlighting its continued significance in the market.

Shiba Inu's strong community backing and continuous ecosystem developments have helped it remain relevant and visible in a highly speculative market. However, recent price action indicates that the token is facing short-term bearish pressure, prompting traders and investors to closely watch for key levels and possible trend reversals. Shiba Inu's battle for meme coin dominance has been a long-standing one, with the spotlight recently returning to it. The question of whether SHIB can overtake Dogecoin in market capitalization has been a topic of debate among financial experts. In a recent survey, 79% of experts believed that SHIB would never overtake Dogecoin, while 14% were unsure. Only 7% of experts thought that SHIB could potentially flip Dogecoin by 2026.

One of the main reasons cited for SHIB's struggle to overtake Dogecoin is its massive supply. With 589.25 trillion tokens in circulation compared to Dogecoin's 148.82 billion, SHIB faces an uphill battle on price and market cap alike. Even if SHIB's price surges, its sheer supply means it must outperform Dogecoin by a huge margin just to catch up. Despite the challenges, SHIB has one of the most passionate communities in crypto, ongoing projects like Shibarium, and a team determined to push beyond the "meme coin" label. It's no longer just about hype—SHIB is slowly building real utility. However, the experts remain skeptical about SHIB's ability to dethrone Dogecoin, citing Dogecoin's first-mover advantage, greater cultural recognition, and vocal support from heavyweights like Elon Musk.

Shiba Inu's technical analysis shows that it has followed a bearish descending channel pattern since December 2024. During this period, it has consistently formed lower highs and lower lows, reflecting a downward trend. Recently, SHIB attempted to break out of this pattern amid a broader market recovery but failed to do so. At the time of writing, the memecoin was hovering near the upper boundary of the channel, a level that has historically triggered price reversals. If SHIB fails to break the upper boundary of the descending channel pattern again, a 30% decline is possible, with the price dropping toward the lower boundary of the pattern. Low trading volume increases the risk of a sudden dip, especially if broader market selling pressure intensifies. Notably, SHIB was trading below both the 50 and 200 Exponential Moving Averages (EMA) on the daily timeframe, suggesting a strong bearish trend with no signs of upward momentum.

The daily chart indicates that SHIB could turn bullish under two conditions: a sudden shift in market sentiment or a daily candle closing above a certain level. However, the current market sentiment shows that SHIB traders are heavily betting on the bearish side, with 61.91% of top traders holding short positions. This suggests that short sellers currently dominate the asset and could drive its price lower in the coming days. Shiba Inu's market trajectory has been marked by sudden price spikes and frequent volatility, leading to high returns for early investors but sharp losses for late entrants. The lack of tangible asset backing has made SHIB's growth heavily reliant on hype cycles, and its utility remains limited to meme value and short-term market trends. As investors seek platforms that combine security with sustainable returns, projects like Rexas Finance are gaining attention. Rexas Finance offers real-world asset exposure and DeFi integration, reducing volatility and providing a more reliable growth trajectory than meme-driven tokens like SHIB.

Rexas Finance allows users to access fractional ownership in high-value assets like real estate, gold, and corporate bonds, traditionally requiring significant capital and institutional access. The platform improves liquidity and transparency through blockchain tokenization and provides tools like a Token Builder, Launchpad, DEX, and real estate DApp to expand its DeFi reach. Security remains a priority, with Rexas Finance passing a full Certik audit to build trust among retail and institutional investors. This combination of security, utility, and real-world value makes RXS a standout project in the crypto landscape, attracting investors looking for growth beyond meme coins.