Shiba Inu Stabilizes Near Historic Lows, but Bears Retain Control Below Key Level

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Shiba Inu continues to trade under strong bearish pressure, with its broader market structure still pointing lower despite early signs that selling momentum may be easing.

This assessment comes from market commentator Dukes Markets Analysis, who shared the outlook in a recent TradingView publication titled “SHIB: From Meme Queen to New Historic Lows.”

Bearish Trend Remains Firmly Intact for Shiba Inu

According to Dukes, Shiba Inu remains below both its 50-day and 100-day Exponential Moving Averages (EMAs), two widely used indicators for identifying the prevailing market trend.

More importantly, the 50-day EMA continues to trade below the 100-day EMA, maintaining a bearish crossover that typically signals sellers remain in control of the market.

As long as SHIB stays beneath both moving averages, the broader technical structure continues to favor further downside. Consequently, any short-term price rebounds are likely to be corrective rallies rather than the beginning of a sustained bullish reversal.

Shiba Inu Must Reclaim a Key Resistance Level: Dukes

Despite the prevailing bearish outlook, Dukes identified $0.00000458 as the first major resistance level bulls must reclaim.

This price previously served as a strong support zone before breaking down and subsequently turning into resistance. He suggests that a decisive breakout above $0.00000458, followed by a strong daily close, would mark the first meaningful improvement in SHIB’s market structure and suggest buyers are beginning to regain control.

Until then, however, the dominant bearish trend remains unchanged.

Momentum Indicators Hint at a Potential Recovery

Although the overall trend remains negative, several momentum indicators suggest selling pressure may be easing.

The Relative Strength Index (RSI) has started to recover after previously falling into weaker territory. However, it still trades below the neutral 50 level, indicating bearish momentum continues to outweigh bullish strength despite the recent improvement.

Meanwhile, the Stochastic RSI (StochRSI), which measures the speed and momentum of price movements, continues to climb steadily without entering overbought territory. This suggests SHIB could have additional room for a short-term recovery before bullish momentum becomes overstretched. 

Another Major Barrier Awaits Bulls

Even with improving momentum readings, Dukes noted that Shiba Inu’s trading volume remains relatively subdued, highlighting the lack of strong conviction from either buyers or sellers.

He emphasized that any breakout above the immediate resistance would require significantly stronger buying activity to confirm a sustainable recovery rather than another temporary bounce.

Even if SHIB successfully reclaims the $0.00000458 resistance level, Dukes believes another significant challenge lies around $0.00000520. This price marks the next major resistance zone, where sellers could once again step in and cap further gains. As a result, bulls would likely need to overcome both resistance levels before Shiba Inu can establish a more convincing medium-term recovery.

SHIB Still Trades Far Below Its Record High

At press time, Shiba Inu remained significantly below its all-time high of $0.00008845. Trading around $0.00000424, the token has declined 95.2% from its peak.

While SHIB has gained a modest 1.04% this month, it remains down 38.58% since the start of the year. The token currently ranks as the 31st-largest cryptocurrency by market capitalization, a notable decline from late 2021, when it consistently ranked among the world’s top 10 digital assets.

Meanwhile, trading activity continues to weaken, with daily volume falling 6.08% over the past 24 hours to $42.98 million, underscoring the lack of strong market participation despite tentative signs of improving momentum.