Bitcoin News Today: Shiba Inu Falls 1.3% Amid Bearish Pressure and Weak Trading Volume

Shiba Inu (SHIB) has experienced a 1.3% decline in the 24-hour period ending on August 2, 2025, amid persistent bearish pressure in the cryptocurrency market [1]. The price is currently trading near critical support at $0.00001195, with resistance forming around $0.00001227 [2]. This range-bound movement has been accompanied by low trading volume, which has limited volatility and discouraged aggressive position-taking among traders [3].

The subdued market activity suggests that investors remain cautious, waiting for clearer signals before engaging in larger trades. Technically, SHIB has yet to show signs of reversal, with the Relative Strength Index (RSI) below 50 and the 100-day Exponential Moving Average acting as a sell signal [4]. The Moving Average Convergence Divergence (MACD) remains in negative territory, with increasing red volume bars reinforcing the bearish bias [5].

A key concern has been the recent surge in SHIB tokens held in exchange reserves. On July 28, SHIB’s exchange-based reserves hit 84.9 trillion, suggesting large holders may be preparing to offload their positions [6]. This has added to the uncertainty in the market, especially given the lack of immediate bullish catalysts. Whale accumulation activity has been observed, offering some hope for a potential rebound, but such signals remain unconfirmed and speculative [7].

Despite some analysts predicting a possible stabilization above $0.00001108 and a potential bullish reversal, the broader market environment remains unfavourable. SHIB briefly dipped into bear market territory at $0.000013, with a speculative price target of $0.00002185 if a turnaround occurs [8]. However, without a shift in investor sentiment or macroeconomic conditions, the bearish narrative is expected to continue.

The broader crypto market has also weakened, with Bitcoin falling below $114,000. Bearish EMA and RSI indicators suggest continued downward momentum across the sector [9]. This environment has put meme coins like SHIB at particular risk, as they are highly sensitive to market sentiment. Macroeconomic concerns, including the Federal Reserve’s signals of prolonged high interest rates, have further exacerbated caution among investors [10].

Daily trading patterns reflect the ongoing bearish momentum, with repeated short-term rallies failing to break above key resistance levels. Downward price movements have seen higher volumes, indicating weak buying interest and continued selling pressure [11]. Traders are now focused on whether SHIB can stabilize near current support levels or if further downside is inevitable. The near-term outlook remains cautiously bearish, with a test of the $0.000010 support zone possible if weekly closes remain low.

The situation highlights the vulnerability of meme coins in a broader bearish market. Without strong fundamental developments or institutional support, SHIB is likely to remain under pressure. Investors are advised to monitor key technical levels and broader market conditions for any signs of reversal.

Source:

[1] Mitrade, https://www.mitrade.com/insights/news/live-news/article-3-1005273-20250801

[2] Coinotag, https://en.coinotag.com/shib-faces-potential-downside-amid-low-volume-and-bearish-market-conditions/

[3] The Economic Times, https://m.economictimes.com/crypto-news-today-live-01-aug-2025/liveblog/123028555.cms

[5] Bitcoin Insider, https://www.bitcoininsider.org/article/281147/shiba-inus-849t-token-exchange-spike-signals-risk-despite-bullish-wedge

[6] The Economic Times, https://m.economictimes.com/crypto-news-today-live-31-jul-2025/liveblog/123004697.cms

[7] Traders Union, https://tradersunion.com/news/cryptocurrency-news/show/410197-dogecoin-slips-as

[8] AInvest, https://www.ainvest.com/news/bitcoin-news-today-bitcoin-drops-114-000-crypto-market-loses-3-2-24-hours-2508-2508/

[9] AInvest, https://www.ainvest.com/news/dogecoin-news-today-doge-slips-0-55-bearish-technical-signals-rising-market-anxiety-2508-2508/

[10] Blockchain News, https://blockchain.news/news/20250801-doge-price-drops-8-to-021-as-institutional-accumulation-signals

[11] CoinCentral, https://coincentral.com/dogecoin-doge-price-bounces-from-key-support-as-bullish-golden-cross-pattern-emerges/