Shiba Inu Under Bearish Pressure as Meme Coin Market Weakens

Shiba Inu (SHIB) is under increasing bearish pressure as the broader meme coin market continues to weaken. The token is currently consolidating within a tightening pennant pattern, with price hovering near the lower trendline at $0.00001158 [1]. Technical indicators suggest a growing risk of a breakdown, with the Average Directional Index (ADX) falling from 22 to 18.4 over the past month, signaling fading trend momentum [1]. If the price breaches below this critical support level, it could lead to further declines toward $0.000008, according to on-chain data [1].

The weakening fundamentals are compounded by active selling from large holders. Netflow trends for big wallets have dropped by over 181% in the last 30 days, with no meaningful accumulation observed in the previous three months [1]. These exits have shifted market dynamics, reducing stability and leaving retail investors with limited capacity to absorb the downward pressure. Without strong whale support, SHIB’s price structure remains fragile [1]. The current price level between $0.000012 and $0.000013 sits on a weak cluster of support, with only approximately 312,850 addresses holding tokens in the next price range [1].

While the broader meme coin index rose 6.2% in a single day, SHIB lagged behind, with a modest 7.9% gain over the same period [1]. In contrast, Dogecoin (DOGE) climbed 29.8%, BONK rose 20.4%, PENGU surged 151.1%, and PEPE increased by more than 9% [1]. This underperformance highlights SHIB’s struggles in a sector dominated by momentum and sentiment-driven trading. The lack of strong buying interest suggests that bulls are failing to defend key levels, and without a rebound above $0.0000132 and $0.0000137, the bearish scenario remains intact [1].

Market sentiment is also deteriorating, as reflected by the Shiba Inu Fear and Greed Index, which has been dominated by fear across multiple timeframes [5]. On-chain activity remains muted, and no major developments have emerged to justify a sustained rally. Meanwhile, newer meme projects are gaining traction, raising concerns that SHIB may be losing relevance [4]. Traders are increasingly favoring DOGE, with some analyses pointing to its stronger positioning against key support and resistance levels compared to SHIB [6].

Despite bullish price predictions from certain platforms, these forecasts remain speculative and are not aligned with current market behavior [7]. As the sector continues to test support and resistance levels, on-chain activity and volume trends will be key indicators for determining the likelihood of a reversal or further decline [9].

Source:

[1] Mitrade, [https://www.mitrade.com/insights/news/live-news/article-3-1025125-20250808](https://www.mitrade.com/insights/news/live-news/article-3-1025125-20250808)

[5] CFGI.io, [https://cfgi.io/shibainu-fear-greed-index/](https://cfgi.io/shibainu-fear-greed-index/)

[4] Mitrade, [https://www.mitrade.com/insights/news/live-news/article-3-1026114-20250809](https://www.mitrade.com/insights/news/live-news/article-3-1026114-20250809)

[6] CoinJournal, [https://coinjournal.net/news/trader-explains-why-doge-will-outperform-shib-and-rtx-is-set-to-trump-xrp-for-gains-in-2025/](https://coinjournal.net/news/trader-explains-why-doge-will-outperform-shib-and-rtx-is-set-to-trump-xrp-for-gains-in-2025/)

[7] Bitget, [https://www.bitget.com/price/shiba-inu/price-prediction](https://www.bitget.com/price/shiba-inu/price-prediction)

[9] CoinDCX, [https://coindcx.com/blog/crypto-deep-dives/crypto-bull-run-2025/](https://coindcx.com/blog/crypto-deep-dives/crypto-bull-run-2025/)