After taking a look at Shiba Inu’s recent price action, this coin is indeed still being dominated by the bears. I’ve noticed that SHIB has been repeatedly oscillating between $0.0000053 and $0.0000057, and each rebound gets pushed back down by selling pressure, suggesting buyer confidence is still somewhat lacking.

What’s even more interesting is that the funding rate has been staying negative, which indicates that short traders are continuously paying fees to maintain their positions. The contract trading volume of $201 million is far higher than the spot volume of $37.4 million. This clearly shows that traders in the derivatives market are mostly shorting, and speculative sentiment is leaning defensive.

On the technical side, the Aroon oscillator is nearing a negative value of 71, and the Stochastic Oscillator is still below the zero line—both of these point to bear control. Over the past month, Shiba Inu has fallen by nearly 22%. Unless buyers can move back above the resistance level at $0.00000726, downward pressure should continue. At present, the short-term situation still appears to favor the bears.