I just checked the Shiba Inu chart and things are still complicated. The price is hovering around recent lows, with just failed attempts at recovery. I saw that in the last 24 hours it dropped about 1.76%, but looking at the broader picture, the last 7 days show some rebound (around 1.88%), so not everything is pessimism.

What catches my attention the most is that the technical indicators continue pointing downward. The Aroon Oscillator is deeply negative, and the Awesome Oscillator also remains in red. That suggests that although there are some bullish movements, selling pressure remains dominant. The significant resistance is at higher levels, but every time Shiba tries to reach there, sellers appear.

The interesting thing is that funding rates in futures have been negative, meaning short traders are paying to hold their positions. That clearly reflects the prevailing bearish sentiment. Futures volume remains quite active ($201 million), much higher than spot volume, so there’s a lot of speculation in derivatives.

Shiba Inu’s market capitalization is around $3.60 billion, so it remains a relevant asset. But as long as those technical indicators don’t change color, it’s hard to be optimistic. We’ll have to see if it manages to recover those recent intraday highs to change the narrative. For now, the structure remains bearish.