Shiba Inu Price Drops 26.33% as Bearish Momentum Persists

Shiba Inu (SHIB) price has been in the spotlight due to a steady decline, hovering near key support levels. Traders are growing restless, and volatility is picking up, raising questions about whether SHIB will rebound or continue to fall. The daily chart shows oversold signals, fading momentum, and crucial zones that could determine the next big move. The Heikin Ashi candles, which smooth out price action and confirm trends, are almost entirely red, indicating persistent bearish pressure.

The Relative Strength Index (RSI) is flashing a major signal. With the 14-day RSI sitting at 24.71, SHIB price is deep in oversold territory (below 30), suggesting a potential reversal could be near. Historically, SHIB has seen short-term rebounds every time the RSI fell under 30, although the strength of the rebound depends on broader market sentiment.

Immediate support for SHIB is at $0.00001079, with major support at $0.00000800. The resistance zone is between $0.00001250 and $0.00001400. SHIB has bounced from the $0.00001070–$0.00001080 range before, and the current RSI makes a case for another short-term bounce. If this support breaks, a retest of $0.00000800 looks likely—a 26.33% drop from the current price.

For bulls to regain control, SHIB price needs a strong daily close above $0.00001250, which would break the recent lower high pattern. That would open the door to retest the $0.00001400 range—roughly a 29% upside from current levels. However, without strong volume or a catalyst, any bounce from the oversold RSI might just be a “dead cat bounce.”

Momentum remains strongly bearish. The Heikin Ashi candles show no upper wicks, indicating one-sided bearish momentum. Additionally, the RSI’s 14-period moving average is trending down, meaning bulls have not shown any sustained buying interest. Until the RSI crosses above 30 and breaks the moving average, buyers will likely remain cautious.

There are two key scenarios for the next 7–10 days. In the bearish scenario, SHIB price breaks below $0.00001079 support, falls to test $0.00000800, and the RSI remains below 30, indicating a bearish continuation. In the bullish scenario, the RSI bounces from 24.71 and crosses above 30, SHIB price breaks $0.00001250 resistance, and heads toward $0.00001400 in a recovery move.

If you're a short-term trader, watch the RSI closely. A rebound above 30 could offer a quick 20–30% upside move. However, without a trend reversal confirmed by price structure and volume, long-term buyers should remain cautious. A break below $0.00001070 could trigger a steep fall toward the $0.00000800 level. Oversold bounce possible, but momentum remains bearish. Shiba Inu price needs to reclaim $0.00001250+ to turn bullish again.