I noticed that SHIB has been maintaining negative funding rates for several consecutive days. This clearly puts downward pressure on the price and indicates that traders are more actively opening short positions. The price is currently bouncing between support and resistance but clearly lacks the strength for a recovery.

From the chart, it’s visible: over the past days, SHIB has lost 1.4% per day, although there is a small weekly gain of 2.19%. But looking broader — over the month, it’s down 0.91%, with a market capitalization of about $3.6 billion. Futures volumes are much higher than spot market volumes, indicating a speculative sentiment.

Technical indicators confirm bearish control. The Aroon oscillator is in the red zone, and Awesome Oscillator is also below the zero line. Attempts at a rebound quickly encounter resistance and roll back. Until buyers regain initiative, the SHIB price will remain under pressure. We are waiting for funding to turn positive — this could be a signal of a trend reversal.