I just looked at the Shiba Inu chart and saw that the situation is quite grim. SHIB is trading around $0.000005323, down about 3.9% in the past 24 hours. What worries me is that its funding rate has remained negative in recent days, indicating that short sellers are still holding their positions. Derivatives volume has reached $201 million, much higher than the spot volume of $37.4 million, so there is quite a lot of activity in the derivatives market.

Looking at the daily chart, Shiba Inu still maintains a clear downtrend. The price continuously makes lower highs and lower lows, currently oscillating near the support level of $0.00000508. The nearest resistance is at $0.00000726, but each time it tries to recover, it gets pushed back. Recent candles show that selling pressure remains very strong.

Technical indicators are not very helpful. The Aroon Oscillator is deeply negative at around -71, indicating that the downtrend is fully dominant. The Awesome Oscillator is also below zero with red bars, reflecting ongoing bearish momentum. I see no signs of a reversal unless buyers regain the resistance levels. Over the past 90 days, Shiba Inu has decreased by 37.04%, and market sentiment remains very cautious. There could still be significant selling pressure ahead.