Shiba Inu ($SHIB) Under Technical Pressure Amid Bearish Signals

My analysis indicates that Shiba Inu ($SHIB) is currently experiencing notable bearish momentum, as reflected by its technical indicators. The Relative Strength Index (RSI) at 38.55 suggests the token is approaching oversold territory, highlighting increased selling pressure. Additionally, the bearish MACD momentum confirms that the downward trend is persistent, even with ongoing token burn initiatives aimed at reducing supply.

In the context of crypto markets, these signals often precede further declines unless support levels are maintained or bullish catalysts appear. The combination of a low RSI and negative MACD momentum underscores renewed weakness in SHIB, which could potentially lead to more downside in the short term if traders continue to sell off.

Investors should consider these technical signs as cautionary indicators. While token burns are intended to foster scarcity and potentially boost the price long-term, current TA suggests a cautious approach. It’s crucial to monitor key support levels and trading volume for any signs of reversal or continued decline.